Truist Financial Corp decreased its position in SJW Group (NYSE:SJW – Free Report) by 6.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,144 shares of the utilities provider’s stock after selling 287 shares during the period. Truist Financial Corp’s holdings in SJW Group were worth $291,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SJW. Metropolitan Life Insurance Co NY increased its stake in shares of SJW Group by 9.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,755 shares of the utilities provider’s stock valued at $142,000 after acquiring an additional 147 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of SJW Group by 1.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,462 shares of the utilities provider’s stock valued at $1,025,000 after acquiring an additional 183 shares during the last quarter. Arizona State Retirement System increased its stake in shares of SJW Group by 2.9% during the 1st quarter. Arizona State Retirement System now owns 7,028 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 200 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of SJW Group by 2.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 10,900 shares of the utilities provider’s stock valued at $830,000 after acquiring an additional 250 shares during the last quarter. Finally, FMR LLC increased its stake in shares of SJW Group by 18.4% during the 1st quarter. FMR LLC now owns 1,913 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.
Analysts Set New Price Targets
SJW has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of SJW Group from $85.00 to $76.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 6th. Wells Fargo & Company upgraded SJW Group from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $67.00 to $61.00 in a report on Wednesday, October 25th. UBS Group decreased their target price on SJW Group from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, October 4th. Finally, StockNews.com initiated coverage on SJW Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.25.
SJW Group Stock Down 0.6 %
Shares of NYSE:SJW opened at $61.75 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.74. SJW Group has a 1 year low of $56.96 and a 1 year high of $83.88. The stock has a market capitalization of $1.97 billion, a P/E ratio of 19.48 and a beta of 0.59. The stock has a 50-day simple moving average of $61.49 and a 200-day simple moving average of $68.10.
SJW Group (NYSE:SJW – Get Free Report) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.17. The firm had revenue of $204.80 million during the quarter, compared to analysts’ expectations of $186.93 million. SJW Group had a return on equity of 8.53% and a net margin of 14.85%. SJW Group’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Equities analysts forecast that SJW Group will post 2.7 earnings per share for the current year.
SJW Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, November 3rd. This is a boost from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio is currently 47.95%.
About SJW Group
SJW Group, through its subsidiaries, provides water utility services in the United States. It operates in two segments, Water Utility Services and Real Estate Services. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services.
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