Truist Financial Corp increased its stake in SJW Group (NYSE:SJW – Get Rating) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,230 shares of the utilities provider’s stock after purchasing an additional 200 shares during the period. Truist Financial Corp’s holdings in SJW Group were worth $474,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. increased its holdings 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 buying an additional 783 shares during the period. Quantbot Technologies LP raised its position in SJW Group by 28.5% during the second quarter. Quantbot Technologies LP now owns 6,939 shares of the utilities provider’s stock valued at $433,000 after purchasing an additional 1,541 shares in the last quarter. Clean Yield Group boosted its holdings in shares of 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 in the last quarter. TIAA FSB bought a new position in shares of SJW Group in the 2nd quarter valued at $256,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of SJW Group during the 2nd quarter worth $5,448,000. Institutional investors and hedge funds own 72.08% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on SJW shares. TheStreet raised SJW Group from a “c+” rating to a “b-” rating in a research note on Tuesday, November 1st. Seaport Res Ptn cut shares of SJW Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 5th. Royal Bank of Canada downgraded shares of SJW Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $85.00 in a research note on Tuesday, January 17th. Wells Fargo & Company boosted their target price on shares of SJW Group from $72.00 to $78.00 in a research note on Wednesday, December 14th. Finally, UBS Group began coverage on SJW Group in a research note on Wednesday, November 30th. They issued a “buy” rating and a $85.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.
SJW Group Stock Performance
SJW Group (NYSE:SJW – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.16. The company had revenue of $175.98 million during the quarter, compared to analysts’ expectations of $172.13 million. SJW Group had a return on equity of 5.09% and a net margin of 9.91%. Sell-side analysts forecast that SJW Group will post 2.36 EPS for the current year.
SJW Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 4th. This is a boost from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.44 annualized dividend and a dividend yield of 1.90%. SJW Group’s dividend payout ratio is 75.00%.
Insider Buying and Selling
In other SJW Group news, CAO James Patrick Lynch sold 709 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $67.27, for a total transaction of $47,694.43. Following the sale, the chief accounting officer now owns 25,249 shares of the company’s stock, valued at $1,698,500.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Andrew Gere sold 830 shares of SJW Group stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $74.72, for a total value of $62,017.60. Following the completion of the sale, the chief operating officer now owns 23,627 shares in the company, valued at approximately $1,765,409.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Patrick Lynch sold 709 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $67.27, for a total transaction of $47,694.43. Following the transaction, the chief accounting officer now directly owns 25,249 shares in the company, valued at $1,698,500.23. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
About SJW Group
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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