SJW Group (NYSE:SJW – Get Rating) – Stock analysts at Seaport Res Ptn reduced their FY2023 earnings per share (EPS) estimates for shares of SJW Group in a report issued on Wednesday, May 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $2.45 for the year, down from their prior forecast of $2.46. The consensus estimate for SJW Group’s current full-year earnings is $2.47 per share.
SJW has been the topic of several other reports. StockNews.com assumed coverage on SJW Group in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. downgraded shares of SJW Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $86.00 to $84.00 in a report on Tuesday, February 7th. Finally, Wells Fargo & Company downgraded SJW Group from an “equal weight” rating to an “underweight” rating and set a $76.00 price target on the stock. in a research note on Friday, May 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.00.
SJW Group Stock Down 0.4 %
SJW Group (NYSE:SJW – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. SJW Group had a return on equity of 7.57% and a net margin of 12.88%. The firm had revenue of $137.30 million during the quarter, compared to analyst estimates of $134.02 million. During the same quarter in the previous year, the firm earned $0.09 EPS.
SJW Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, May 5th. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio (DPR) is 57.14%.
Insiders Place Their Bets
In related news, Director Carl Guardino sold 777 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $76.03, for a total transaction of $59,075.31. Following the completion of the transaction, the director now directly owns 3,184 shares of the company’s stock, valued at $242,079.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carl Guardino sold 777 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $76.03, for a total value of $59,075.31. Following the sale, the director now directly owns 3,184 shares in the company, valued at $242,079.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig J. Patla sold 725 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $76.09, for a total value of $55,165.25. Following the transaction, the insider now owns 7,038 shares of the company’s stock, valued at approximately $535,521.42. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On SJW Group
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its position in SJW Group by 55.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 496 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in SJW Group by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 195,504 shares of the utilities provider’s stock worth $13,603,000 after buying an additional 6,063 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of SJW Group by 1,384.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,794 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 4,471 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of SJW Group by 3.8% during the 1st quarter. Bank of Montreal Can now owns 20,047 shares of the utilities provider’s stock worth $1,405,000 after purchasing an additional 725 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in SJW Group during the 1st quarter valued at about $1,269,000. 72.08% of the stock is owned by hedge funds and other institutional investors.
SJW Group Company Profile
SJW Group is a holding company, which through its subsidiaries provides water utility services. It operates through the Water Utility Services and Real Estate Services segments. The Water Utility Services segment offers water utility and utility-related services. The Real Estate Services segment engages in property management and investment activity.
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