Independent Advisor Alliance raised its stake in shares of SJW Group (NYSE:SJW) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,235 shares of the utilities provider’s stock after buying an additional 1,898 shares during the quarter. Independent Advisor Alliance’s holdings in SJW Group were worth $879,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SJW. Quantamental Technologies LLC purchased a new position in SJW Group during the first quarter valued at $46,000. Advisor Group Inc. raised its stake in SJW Group by 41.7% during the fourth quarter. Advisor Group Inc. now owns 952 shares of the utilities provider’s stock valued at $52,000 after buying an additional 280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SJW Group by 55.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the utilities provider’s stock valued at $69,000 after buying an additional 443 shares during the last quarter. Cutler Group LP raised its stake in SJW Group by 1,435.6% during the fourth quarter. Cutler Group LP now owns 1,597 shares of the utilities provider’s stock valued at $88,000 after buying an additional 1,493 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in SJW Group during the fourth quarter valued at $91,000. Institutional investors and hedge funds own 66.11% of the company’s stock.
A number of brokerages have issued reports on SJW. Zacks Investment Research upgraded SJW Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. UBS Group began coverage on SJW Group in a research note on Wednesday. They set a “neutral” rating and a $64.00 price objective for the company. Wells Fargo & Co set a $72.00 target price on SJW Group and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, ValuEngine lowered SJW Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.60.
SJW Group stock opened at $62.71 on Friday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 4.38 and a beta of 0.06. SJW Group has a 12 month low of $51.82 and a 12 month high of $68.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.63 and a quick ratio of 5.63.
SJW Group (NYSE:SJW) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.13. The business had revenue of $77.68 million during the quarter, compared to analyst estimates of $77.00 million. SJW Group had a return on equity of 8.37% and a net margin of 10.83%. Equities research analysts forecast that SJW Group will post 2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s payout ratio is 47.81%.
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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. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.
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