Mirae Asset Global Investments Co. Ltd. Raises Stock Position in SJW Group (NYSE:SJW)

Mirae Asset Global Investments Co. Ltd. raised its stake in SJW Group (NYSE:SJW) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,666 shares of the utilities provider’s stock after acquiring an additional 487 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of SJW Group worth $1,089,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its holdings in SJW Group by 130.3% in the third quarter. Daiwa Securities Group Inc. now owns 3,206 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 1,814 shares during the period. TIAA Trust National Association purchased a new position in SJW Group during the third quarter worth about $246,000. IFM Investors Pty Ltd raised its stake in shares of SJW Group by 11.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 4,253 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 449 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of SJW Group during the 3rd quarter worth approximately $292,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SJW Group by 26.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,286 shares of the utilities provider’s stock valued at $318,000 after purchasing an additional 1,090 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

SJW Group Trading Down 0.3 %

SJW opened at $54.09 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.63 and a beta of 0.58. The business has a fifty day moving average price of $56.21 and a 200 day moving average price of $60.72. SJW Group has a 12 month low of $51.37 and a 12 month high of $79.41.

SJW Group (NYSE:SJW) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). SJW Group had a return on equity of 7.10% and a net margin of 12.68%. The firm had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. Sell-side analysts expect that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s payout ratio is presently 59.93%.

Wall Street Analysts Forecast Growth

SJW has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on SJW Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, Seaport Res Ptn raised shares of SJW Group from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $66.00.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.