Comerica Bank grew its position in shares of SJW Group (NYSE:SJW – Get Rating) by 73.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,060 shares of the utilities provider’s stock after purchasing an additional 11,860 shares during the quarter. Comerica Bank owned approximately 0.09% of SJW Group worth $2,218,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Advisor Group Holdings Inc. grew its position in SJW Group by 55.8% during the 1st 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 during the last quarter. Bank of New York Mellon Corp grew its position in SJW Group by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 195,504 shares of the utilities provider’s stock worth $13,603,000 after acquiring an additional 6,063 shares during the last quarter. PNC Financial Services Group Inc. grew its position in SJW Group by 1,384.2% during 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 grew its position in 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 acquiring an additional 725 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in SJW Group during the 1st quarter worth approximately $1,269,000. 72.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on SJW shares. StockNews.com started coverage on SJW Group in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Seaport Res Ptn lowered SJW Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 5th. Royal Bank of Canada lowered SJW Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $85.00 in a research report on Tuesday, January 17th. Finally, JPMorgan Chase & Co. lowered SJW Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $86.00 to $84.00 in a research report on Tuesday, February 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.40.
Insider Activity
In other SJW Group news, insider Craig J. Patla sold 725 shares of SJW Group stock in a transaction on Monday, March 27th. The stock was sold at an average price of $76.09, for a total transaction of $55,165.25. Following the completion of the transaction, the insider now owns 7,038 shares in the company, valued at $535,521.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.
SJW Group Trading Down 0.8 %
SJW opened at $78.43 on Tuesday. The stock has a market cap of $2.42 billion, a PE ratio of 32.54 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average of $76.80 and a 200-day moving average of $74.77. SJW Group has a 52 week low of $55.74 and a 52 week high of $83.88.
SJW Group (NYSE:SJW – Get Rating) last released its earnings results on Wednesday, February 22nd. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The company had revenue of $171.37 million during the quarter, compared to analysts’ expectations of $159.39 million. SJW Group had a return on equity of 6.97% and a net margin of 11.89%. Equities research analysts predict that SJW Group will post 2.45 earnings per share for the current fiscal year.
SJW Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Monday, February 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 3rd. This is a boost from SJW Group’s previous quarterly dividend of $0.36. SJW Group’s dividend payout ratio (DPR) is presently 63.07%.
About SJW Group
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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