First Manhattan Co. Increases Holdings in SJW Group (NYSE:SJW)

First Manhattan Co. raised its position in SJW Group (NYSE:SJWGet Rating) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,184 shares of the utilities provider’s stock after buying an additional 940 shares during the period. First Manhattan Co.’s holdings in SJW Group were worth $14,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SJW. Kepos Capital LP purchased a new position in SJW Group in the 4th quarter valued at about $92,000. Advisor Group Holdings Inc. boosted its position 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 buying an additional 496 shares during the last quarter. MQS Management LLC purchased a new position in SJW Group in the 1st quarter valued at about $207,000. Humankind Investments LLC purchased a new position in SJW Group in the 4th quarter valued at about $208,000. Finally, IFM Investors Pty Ltd purchased a new position in SJW Group in the 1st quarter valued at about $254,000. 72.05% of the stock is owned by hedge funds and other institutional investors.

SJW Group Price Performance

Shares of NYSE:SJW opened at $65.83 on Tuesday. The firm’s 50 day moving average is $65.02 and its two-hundred day moving average is $63.94. SJW Group has a 52 week low of $55.74 and a 52 week high of $73.69. The firm has a market capitalization of $1.99 billion, a P/E ratio of 37.83 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.19%. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio (DPR) is presently 82.76%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TheStreet cut shares of SJW Group from a “b-” rating to a “c+” rating in a research report on Thursday, May 19th. Barclays cut their target price on shares of SJW Group from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Wells Fargo & Company lowered shares of SJW Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $67.00 to $66.00 in a research note on Thursday, June 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.00.

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.

See Also

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Institutional Ownership by Quarter for SJW Group (NYSE:SJW)

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