Comerica Bank increased its stake in SJW Group (NYSE:SJW) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,360 shares of the utilities provider’s stock after purchasing an additional 176 shares during the quarter. Comerica Bank owned 0.06% of SJW Group worth $1,013,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Rhumbline Advisers raised its position in SJW Group by 27.7% in the first quarter. Rhumbline Advisers now owns 33,903 shares of the utilities provider’s stock worth $2,093,000 after acquiring an additional 7,356 shares during the period. Quantamental Technologies LLC bought a new stake in shares of SJW Group during the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SJW Group by 23.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,525 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 288 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of SJW Group by 67.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,205 shares of the utilities provider’s stock valued at $630,000 after purchasing an additional 4,109 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in shares of SJW Group by 33.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 25,083 shares of the utilities provider’s stock valued at $1,549,000 after purchasing an additional 6,257 shares during the period. Institutional investors own 68.06% of the company’s stock.
SJW has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Wells Fargo & Co set a $72.00 target price on shares of SJW Group and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine cut shares of SJW Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group started coverage on shares of SJW Group in a research note on Wednesday, May 15th. They issued a “neutral” rating and a $64.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $65.60.
Shares of SJW stock traded down $1.18 during trading hours on Wednesday, hitting $59.83. The company’s stock had a trading volume of 86,400 shares, compared to its average volume of 134,131. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.63 and a current ratio of 5.63. The stock has a 50 day simple moving average of $61.95. SJW Group has a 12-month low of $51.82 and a 12-month high of $67.95. The stock has a market cap of $1.73 billion, a PE ratio of 23.84, a PEG ratio of 4.32 and a beta of 0.08.
SJW Group (NYSE:SJW) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.13. The firm had revenue of $77.68 million during the quarter, compared to analysts’ expectations of $77.00 million. SJW Group had a net margin of 10.83% and a return on equity of 8.37%. Research analysts expect that SJW Group will post 2.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, May 3rd. SJW Group’s dividend payout ratio is presently 47.81%.
SJW Group Profile
SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.
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