Rhumbline Advisers lifted its stake in shares of SJW Group (NYSE:SJW – Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,909 shares of the utilities provider’s stock after purchasing an additional 5,735 shares during the period. Rhumbline Advisers owned about 0.30% of SJW Group worth $7,149,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of SJW. Cerity Partners LLC bought a new position in SJW Group in the fourth quarter worth about $129,070,000. Norges Bank bought a new position in SJW Group in the fourth quarter worth about $19,796,000. Jane Street Group LLC lifted its holdings in SJW Group by 610.3% in the fourth quarter. Jane Street Group LLC now owns 236,928 shares of the utilities provider’s stock worth $19,236,000 after acquiring an additional 203,573 shares during the last quarter. Morgan Stanley lifted its holdings in SJW Group by 136.9% in the fourth quarter. Morgan Stanley now owns 301,748 shares of the utilities provider’s stock worth $24,499,000 after acquiring an additional 174,397 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in SJW Group by 1,697.9% in the fourth quarter. Principal Financial Group Inc. now owns 162,886 shares of the utilities provider’s stock worth $13,225,000 after acquiring an additional 153,826 shares during the last quarter. Institutional investors own 72.89% of the company’s stock.
Analyst Upgrades and Downgrades
SJW has been the topic of a number of recent analyst reports. UBS Group cut SJW Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $78.00 in a report on Tuesday, June 6th. Wells Fargo & Company cut SJW Group from an “equal weight” rating to an “underweight” rating and set a $76.00 price target on the stock. in a report on Friday, May 12th. They noted that the move was a valuation call. Finally, StockNews.com initiated coverage on SJW Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.75.
SJW Group Price Performance
Shares of NYSE:SJW opened at $63.55 on Wednesday. SJW Group has a 12 month low of $57.51 and a 12 month high of $83.88. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 22.28 and a beta of 0.56. The stock’s 50 day moving average price is $68.96 and its 200 day moving average price is $73.46. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.85 and a quick ratio of 0.85.
SJW Group (NYSE:SJW – Get Free Report) last announced its earnings results 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 firm had revenue of $156.90 million for the quarter, compared to analysts’ expectations of $160.27 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that SJW Group will post 2.47 earnings per share for the current fiscal year.
SJW Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a dividend of $0.38 per share. This is a boost from SJW Group’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, August 4th. This represents a $1.52 annualized dividend and a yield of 2.39%. SJW Group’s payout ratio is presently 53.15%.
SJW Group Profile
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.
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