Van ECK Associates Corp lifted its position in SJW Group (NYSE:SJW – Get Rating) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,585 shares of the utilities provider's stock after purchasing an additional 499 shares during the period. Van ECK Associates Corp's holdings in SJW Group were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank N A MO purchased a new position in SJW Group during the fourth quarter valued at $44,000. Kepos Capital LP purchased a new position in SJW Group during the fourth quarter valued at $92,000. Advisor Group Holdings Inc. grew its stake in SJW Group by 55.8% during the first quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider's stock valued at $96,000 after acquiring an additional 496 shares in the last quarter. Humankind Investments LLC purchased a new position in SJW Group during the fourth quarter valued at $208,000. Finally, MQS Management LLC purchased a new position in SJW Group during the first quarter valued at $207,000. 77.21% of the stock is owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
Several equities analysts have commented on SJW shares. Wells Fargo & Company lowered shares of SJW Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $67.00 to $66.00 in a research report on Thursday, June 2nd. JPMorgan Chase & Co. upgraded shares of SJW Group from a "neutral" rating to an "overweight" rating and set a $67.00 price objective for the company in a research report on Monday, May 2nd. Barclays lowered their price objective on shares of SJW Group from $72.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, July 18th. Finally, TheStreet lowered shares of SJW Group from a "b-" rating to a "c+" rating in a research report on Thursday, May 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, SJW Group presently has a consensus rating of "Hold" and a consensus target price of $66.00.
SJW Group Price Performance
SJW Group stock opened at $65.78 on Friday. The firm has a 50-day moving average price of $64.20 and a 200-day moving average price of $63.96. The firm has a market capitalization of $1.99 billion, a PE ratio of 37.80 and a beta of 0.55. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.41. SJW Group has a 12-month low of $55.74 and a 12-month high of $73.69.
SJW Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, August 5th. This is a positive change from SJW Group's previous quarterly dividend of $0.19. SJW Group's dividend payout ratio (DPR) is 82.76%.
About SJW Group
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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 and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.
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