Thrivent Financial for Lutherans acquired a new position in shares of SJW Group (NYSE:SJW) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,921 shares of the utilities provider’s stock, valued at approximately $342,000.
Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its stake in SJW Group by 24.5% during the first quarter. FMR LLC now owns 548,854 shares of the utilities provider’s stock worth $33,886,000 after buying an additional 108,003 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in SJW Group during the 1st quarter worth about $16,536,000. Victory Capital Management Inc. raised its position in shares of SJW Group by 43.3% in the 4th quarter. Victory Capital Management Inc. now owns 9,310 shares of the utilities provider’s stock worth $662,000 after acquiring an additional 2,811 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SJW Group by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 160,680 shares of the utilities provider’s stock worth $11,418,000 after acquiring an additional 3,732 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of SJW Group by 3.7% in the 4th quarter. Comerica Bank now owns 17,158 shares of the utilities provider’s stock valued at $1,276,000 after purchasing an additional 618 shares during the period. 68.18% of the stock is currently owned by institutional investors.
In other news, CFO James Patrick Lynch sold 705 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $63.67, for a total value of $44,887.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.30% of the company’s stock.
Shares of SJW opened at $60.01 on Wednesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 86.97, a P/E/G ratio of 1.95 and a beta of 0.27. SJW Group has a 52 week low of $45.60 and a 52 week high of $74.99. The stock has a 50 day moving average price of $60.52 and a two-hundred day moving average price of $64.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.54 and a current ratio of 0.54.
SJW Group (NYSE:SJW) last announced its earnings results on Monday, May 4th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.26). SJW Group had a net margin of 4.35% and a return on equity of 4.67%. The company had revenue of $115.75 million for the quarter, compared to analysts’ expectations of $104.80 million. On average, equities analysts forecast that SJW Group will post 2.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, May 8th. SJW Group’s dividend payout ratio is 71.91%.
A number of equities research analysts have weighed in on the company. Royal Bank of Canada assumed coverage on SJW Group in a report on Friday, April 24th. They issued an “outperform” rating and a $68.00 target price for the company. ValuEngine upgraded shares of SJW Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Wells Fargo & Co cut their target price on shares of SJW Group from $78.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Zacks Investment Research cut shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 26th. Finally, Seaport Global Securities initiated coverage on shares of SJW Group in a report on Wednesday, May 20th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $70.83.
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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