TD Asset Management Inc. cut its stake in shares of SJW Group (NYSE:SJW – Get Rating) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,558 shares of the utilities provider's stock after selling 10,582 shares during the quarter. TD Asset Management Inc. owned about 0.12% of SJW Group worth $2,544,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank N A MO acquired a new position in shares of SJW Group during the 4th quarter worth $44,000. Kepos Capital LP purchased a new position in SJW Group in the 4th quarter valued at about $92,000. Advisor Group Holdings Inc. lifted its holdings in SJW Group by 55.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider's stock valued at $96,000 after purchasing an additional 496 shares in the last quarter. MQS Management LLC purchased a new position in SJW Group in the 1st quarter valued at about $207,000. Finally, Humankind Investments LLC purchased a new position in SJW Group in the 4th quarter valued at about $208,000. 77.21% of the stock is owned by institutional investors and hedge funds.
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SJW Group Trading Down 1.5 %
NYSE SJW opened at $65.78 on Friday. SJW Group has a 12 month low of $55.74 and a 12 month high of $73.69. The company has a 50-day moving average of $64.20 and a 200-day moving average of $63.95. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $1.99 billion, a P/E ratio of 37.80 and a beta of 0.55.
SJW Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, August 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from SJW Group's previous quarterly dividend of $0.19. SJW Group's dividend payout ratio is currently 82.76%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. TheStreet lowered shares of SJW Group from a "b-" rating to a "c+" rating in a report on Thursday, May 19th. Wells Fargo & Company lowered shares of SJW Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $67.00 to $66.00 in a 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 target price on the stock in a report on Monday, May 2nd. Finally, Barclays dropped 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 note on Monday, July 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $66.00.
SJW Group Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on SJW Group (SJW)
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