Truist Financial Corp trimmed its position in SJW Group (NYSE:SJW – Free Report) by 27.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,431 shares of the utilities provider’s stock after selling 1,680 shares during the period. Truist Financial Corp’s holdings in SJW Group were worth $337,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Ziegler Capital Management LLC grew its position in shares of SJW Group by 3.8% during the 1st quarter. Ziegler Capital Management LLC now owns 13,035 shares of the utilities provider’s stock valued at $992,000 after acquiring an additional 478 shares during the period. ExodusPoint Capital Management LP grew its position in shares of SJW Group by 715.7% during the 4th quarter. ExodusPoint Capital Management LP now owns 109,561 shares of the utilities provider’s stock valued at $8,895,000 after acquiring an additional 96,130 shares during the period. Tortoise Index Solutions LLC purchased a new stake in shares of SJW Group during the 4th quarter valued at approximately $2,248,000. HRT Financial LP lifted its stake in shares of SJW Group by 135.7% during the 4th quarter. HRT Financial LP now owns 46,654 shares of the utilities provider’s stock valued at $3,787,000 after buying an additional 26,863 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of SJW Group by 3.6% during the 4th quarter. American Century Companies Inc. now owns 368,189 shares of the utilities provider’s stock valued at $29,893,000 after buying an additional 12,840 shares in the last quarter. 81.31% of the stock is owned by institutional investors.
SJW Group Stock Up 1.5 %
Shares of SJW Group stock opened at $66.51 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.11 billion, a PE 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 company has a 50-day simple moving average of $69.54 and a two-hundred day simple moving average of $73.95.
SJW Group (NYSE:SJW – Get Free Report) last issued its earnings results on Monday, July 31st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $156.90 million during the quarter, compared to analysts’ expectations of $160.27 million. SJW Group had a net margin of 13.77% and a return on equity of 7.89%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, analysts anticipate that SJW Group will post 2.47 EPS for the current fiscal year.
SJW Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 4th. This is a boost from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.52 annualized dividend and a yield of 2.29%. SJW Group’s payout ratio is 53.15%.
Analyst Ratings Changes
Several analysts have issued reports on SJW shares. Wells Fargo & Company cut 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 note on Friday, May 12th. They noted that the move was a valuation call. StockNews.com began coverage on shares of SJW Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, UBS Group lowered shares of SJW Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $78.00 in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, SJW Group presently has an average rating of “Hold” and a consensus price target of $80.75.
Get Our Latest Analysis on SJW Group
SJW Group Company 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider SJW Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and SJW Group wasn’t on the list.
While SJW Group currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Source: marketbeat.com
