PNC Financial Services Group Inc. lifted its stake in shares of SJW Group (NYSE:SJW – Free Report) by 44.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,881 shares of the utilities provider’s stock after buying an additional 1,796 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SJW Group were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the stock. Manchester Capital Management LLC raised its stake in shares of SJW Group by 29.0% during the third quarter. Manchester Capital Management LLC now owns 11,161 shares of the utilities provider’s stock worth $671,000 after purchasing an additional 2,509 shares during the last quarter. Rhumbline Advisers raised its stake in shares of SJW Group by 5.3% during the third quarter. Rhumbline Advisers now owns 115,979 shares of the utilities provider’s stock worth $6,971,000 after purchasing an additional 5,839 shares during the last quarter. Ellevest Inc. raised its stake in shares of SJW Group by 49.1% during the third quarter. Ellevest Inc. now owns 6,434 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 2,119 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of SJW Group by 57.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 22,779 shares of the utilities provider’s stock worth $1,369,000 after purchasing an additional 8,311 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of SJW Group by 0.8% during the third quarter. Texas Permanent School Fund Corp now owns 24,552 shares of the utilities provider’s stock worth $1,476,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 72.89% of the company’s stock.
SJW Group Stock Up 2.4 %
SJW Group stock opened at $56.39 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.74 and a current ratio of 0.58. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. SJW Group has a fifty-two week low of $54.39 and a fifty-two week high of $81.86. The stock’s fifty day moving average is $61.25 and its two-hundred day moving average is $62.86.
SJW Group (NYSE:SJW – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $171.34 million for the quarter, compared to analyst estimates of $161.23 million. SJW Group had a net margin of 12.68% and a return on equity of 7.10%. During the same period in the previous year, the business earned $1.09 EPS. Analysts predict that SJW Group will post 2.76 EPS for the current fiscal year.
SJW Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio (DPR) is presently 59.93%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on SJW shares. Wells Fargo & Company upped their price objective on SJW Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Seaport Res Ptn raised SJW Group from a “neutral” rating to a “buy” rating in a report on Monday, February 26th. Finally, StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, SJW Group presently has a consensus rating of “Hold” and an average price target of $66.00.
Read Our Latest Analysis on SJW Group
About SJW Group
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.
Further Reading
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Source: americanbankingnews.com
