Clear Harbor Asset Management LLC Trims Stake in SJW Group (NYSE:SJW)

Clear Harbor Asset Management LLC reduced its position in SJW Group (NYSE:SJW) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,451 shares of the utilities provider’s stock after selling 587 shares during the quarter. Clear Harbor Asset Management LLC owned 0.09% of SJW Group worth $1,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in SJW Group by 26.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 107,343 shares of the utilities provider’s stock worth $7,015,000 after acquiring an additional 22,223 shares in the last quarter. Ziegler Capital Management LLC grew its stake in SJW Group by 7.0% in the 4th quarter. Ziegler Capital Management LLC now owns 10,218 shares of the utilities provider’s stock worth $668,000 after acquiring an additional 667 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in SJW Group by 3.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,964 shares of the utilities provider’s stock worth $390,000 after acquiring an additional 198 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in SJW Group by 41.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,640 shares of the utilities provider’s stock worth $499,000 after acquiring an additional 2,252 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in SJW Group by 3.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 26,160 shares of the utilities provider’s stock worth $1,710,000 after acquiring an additional 816 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on SJW shares. Wells Fargo & Company upped their target price on shares of SJW Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. StockNews.com downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Seaport Res Ptn upgraded shares of SJW Group from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, SJW Group presently has an average rating of “Hold” and an average price target of $66.00.

SJW Group Stock Down 0.1 %

SJW traded down $0.05 during trading on Thursday, hitting $56.59. The stock had a trading volume of 225,166 shares, compared to its average volume of 178,626. The company has a market capitalization of $1.81 billion, a PE ratio of 21.19, a PEG ratio of 2.68 and a beta of 0.58. SJW Group has a twelve month low of $54.39 and a twelve month high of $81.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50 day simple moving average of $58.29 and a two-hundred day simple moving average of $61.65.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $171.34 million during the quarter, compared to analyst estimates of $161.23 million. SJW Group had a net margin of 12.68% and a return on equity of 7.10%. During the same quarter last year, the business earned $1.09 earnings per share. On average, research analysts predict that SJW Group will post 2.76 earnings per share for the current year.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.83%. This is an increase from SJW Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, February 2nd. SJW Group’s dividend payout ratio (DPR) is 59.93%.

About SJW Group

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.