Richard Reich, who serves as senior vice president and general counsel at New Jersey Resources Corp (NYSE: NJR), completed a sale of 5,449 shares of the company’s common stock on March 19, 2026. The shares were sold at a weighted average price of $52.99, producing total proceeds of $288,742. Reported execution prices for the lot ranged from $52.95 to $53.03.
The transaction was executed under a Rule 10b5-1 trading plan that Reich entered into on December 12, 2025. Following the sale, Reich’s direct holdings in New Jersey Resources amount to 26,974.789 shares. He also maintains indirect ownership of 3,445.5072 shares through the New Jersey Resources Corporation Employees’ Retirement Savings Plan.
At the time of the sale, New Jersey Resources was trading at $53.79, roughly 3% below its 52-week high of $55.49, according to InvestingPro data. The placement of the sale within a 10b5-1 plan and the fact that the share price was close to the year-to-date peak are both notable contextual points in assessing the timing of the trade.
Recent company performance and analyst move
Separately from the insider transaction, New Jersey Resources released first-quarter fiscal 2026 results that exceeded Wall Street forecasts. The company reported earnings per share of $1.17 versus an expected $1.01. Revenue for the quarter reached $604.85 million, topping the anticipated $549.2 million total.
Following the quarterly report, Raymond James raised its price target on New Jersey Resources to $55 from $53 and retained an Outperform rating. In its note, the firm highlighted confidence in the company’s ability to distinguish itself among gas utilities through its core NJNG utility and other business lines.
What the record shows
- Insider sale: 5,449 shares sold on March 19, 2026, at a weighted average of $52.99 for $288,742 in proceeds.
- Post-sale holdings: 26,974.789 shares held directly; 3,445.5072 shares held indirectly via the employees’ retirement savings plan.
- Sale executed pursuant to a Rule 10b5-1 trading plan established December 12, 2025.
- Company results: Q1 fiscal 2026 EPS of $1.17 and revenue of $604.85 million, both ahead of consensus estimates.
- Analyst action: Raymond James increased its price target to $55 and kept an Outperform rating.
The combination of a programmed insider sale and publicly released quarterly results that outperformed expectations offers a clear factual record of recent activity at New Jersey Resources. The sale, the company’s quarterly performance, and the analyst update are recorded events; how market participants interpret them may vary.