Skandinaviska Enskilda Banken AB publ Acquires New Shares in SJW Group (NYSE:SJW)

Posted by Defense World Staff on Aug 28th, 2023

Skandinaviska Enskilda Banken AB publ purchased a new position in SJW Group (NYSE:SJW – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,623 shares of the utilities provider’s stock, valued at approximately $656,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in SJW Group during the second quarter valued at approximately $28,000. Spire Wealth Management purchased a new stake in shares of SJW Group during the 1st quarter valued at $33,000. Lazard Asset Management LLC acquired a new stake in shares of SJW Group in the 4th quarter worth $57,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of SJW Group in the 2nd quarter worth $81,000. Finally, Tower Research Capital LLC TRC grew its stake in SJW Group by 160.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the utilities provider’s stock worth $83,000 after buying an additional 678 shares during the last quarter. Institutional investors own 72.89% of the company’s stock.

SJW Group Stock Up 1.5 %

Shares of SJW opened at $66.51 on Monday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 23.26 and a beta of 0.54. SJW Group has a 52 week low of $57.51 and a 52 week high of $83.88. The stock’s 50-day moving average price is $69.54 and its 200-day moving average price is $73.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.28.

SJW Group (NYSE:SJW – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The utilities provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. SJW Group had a return on equity of 7.89% and a net margin of 13.77%. The business had revenue of $156.90 million for the quarter, compared to analyst estimates of $160.27 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that SJW Group will post 2.47 EPS for the current year.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.38 per share. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, August 4th. SJW Group’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

SJW has been the subject of several recent analyst reports. UBS Group downgraded SJW Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $78.00 in a report on Tuesday, June 6th. Wells Fargo & Company downgraded shares of SJW Group from an “equal weight” rating to an “underweight” rating and set a $76.00 target price on the stock. in a research report on Friday, May 12th. They noted that the move was a valuation call. Finally, StockNews.com started coverage on SJW Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.75.

Read Our Latest Stock Analysis on SJW

SJW Group Company Profile

(Free Report)

SJW Group, through its subsidiaries, provides water utility services in the United States. It operates in two segments, Water Utility Services and Real Estate Services. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services.