SJW Group (NYSE:SJW) Hits New 12-Month High at $73.82

SJW Group (NYSE:SJWGet Rating) hit a new 52-week high during trading on Monday . The company traded as high as $73.82 and last traded at $73.82, with a volume of 100 shares changing hands. The stock had previously closed at $73.48.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SJW shares. StockNews.com started coverage on SJW Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their target price on SJW Group from $66.00 to $72.00 and gave the company an “equal weight” rating in a research report on Monday, October 31st. Finally, TheStreet upgraded SJW Group from a “c+” rating to a “b-” rating in a research report on Tuesday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SJW Group currently has an average rating of “Hold” and a consensus target price of $68.00.

SJW Group Price Performance

The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 38.41 and a beta of 0.65. The stock has a fifty day simple moving average of $65.42 and a 200-day simple moving average of $63.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.50 and a quick ratio of 0.50.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 4th. This is an increase from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. SJW Group’s payout ratio is presently 75.00%.

Insider Buying and Selling at SJW Group

In other SJW Group news, Director Carl Guardino sold 1,175 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $64.32, for a total value of $75,576.00. Following the completion of the transaction, the director now directly owns 2,729 shares of the company’s stock, valued at $175,529.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carl Guardino sold 1,175 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $64.32, for a total transaction of $75,576.00. Following the completion of the transaction, the director now directly owns 2,729 shares of the company’s stock, valued at approximately $175,529.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO James Patrick Lynch sold 709 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $67.27, for a total value of $47,694.43. Following the transaction, the chief accounting officer now directly owns 25,249 shares of the company’s stock, valued at $1,698,500.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,840 shares of company stock valued at $245,289. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in shares of SJW Group by 267.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,557 shares of the utilities provider’s stock worth $1,500,000 after buying an additional 15,694 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in SJW Group by 13.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,558 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 783 shares during the last quarter. MQS Management LLC acquired a new position in SJW Group in the 1st quarter valued at $207,000. Clean Yield Group raised its stake in SJW Group by 88.2% in the 2nd quarter. Clean Yield Group now owns 86,015 shares of the utilities provider’s stock valued at $5,368,000 after purchasing an additional 40,322 shares during the last quarter. Finally, First Manhattan Co. raised its stake in SJW Group by 0.5% in the 1st quarter. First Manhattan Co. now owns 204,184 shares of the utilities provider’s stock valued at $14,207,000 after purchasing an additional 940 shares during the last quarter. 72.05% of the stock is owned by institutional investors and hedge funds.

About SJW Group

(Get Rating)

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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