SJW Group (NYSE:SJW) Downgraded to “Hold” at Zacks Investment Research

SJW Group (NYSE:SJW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. “

SJW has been the topic of several other reports. Wells Fargo & Co set a $80.00 price target on SJW Group and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Macquarie started coverage on SJW Group in a research report on Monday, October 7th. They set an “outperform” rating and a $79.00 price target on the stock. Janney Montgomery Scott reiterated a “buy” rating and set a $71.00 price target on shares of SJW Group in a research report on Thursday, September 5th. Finally, ValuEngine upgraded SJW Group from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $75.20.

Shares of SJW traded down $1.58 during midday trading on Thursday, hitting $69.75. 2,200 shares of the company traded hands, compared to its average volume of 148,884. The stock has a 50-day moving average of $70.67 and a 200-day moving average of $65.32. SJW Group has a one year low of $51.82 and a one year high of $74.47. The firm has a market cap of $2.02 billion, a P/E ratio of 27.81, a PEG ratio of 8.26 and a beta of -0.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.52 and a quick ratio of 3.97.

Several hedge funds have recently bought and sold shares of SJW. Enterprise Trust & Investment Co bought a new position in SJW Group during the second quarter valued at approximately $559,000. Maple Brown Abbott Ltd grew its position in SJW Group by 5.4% during the second quarter. Maple Brown Abbott Ltd now owns 471,950 shares of the utilities provider’s stock valued at $28,680,000 after acquiring an additional 24,390 shares during the last quarter. Comerica Bank grew its position in SJW Group by 1.8% during the second quarter. Comerica Bank now owns 16,655 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 295 shares during the last quarter. Yaupon Capital Management LP bought a new position in SJW Group during the second quarter valued at approximately $1,268,000. Finally, Miller Howard Investments Inc. NY grew its position in SJW Group by 6.9% during the third quarter. Miller Howard Investments Inc. NY now owns 26,862 shares of the utilities provider’s stock valued at $1,834,000 after acquiring an additional 1,739 shares during the last quarter. Institutional investors own 68.02% of the company’s stock.

SJW Group Company Profile

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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