Seaport Global Securities began coverage on shares of SJW Group (NYSE:SJW) in a research note published on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating on the utilities provider’s stock.
Several other research analysts have also commented on the company. ValuEngine upgraded SJW Group from a sell rating to a hold rating in a research report on Tuesday, March 3rd. Royal Bank of Canada started coverage on SJW Group in a research report on Friday, April 24th. They issued an outperform rating and a $68.00 price target for the company. Zacks Investment Research lowered SJW Group from a hold rating to a sell rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Co decreased their price target on shares of SJW Group from $78.00 to $67.00 and set an overweight rating for the company in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $70.83.
Shares of SJW Group stock traded up $0.48 during trading on Wednesday, reaching $59.80. 161,219 shares of the stock traded hands, compared to its average volume of 169,162. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 40.91 and a beta of 0.26. The business has a fifty day simple moving average of $58.66 and a two-hundred day simple moving average of $66.19. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.54 and a quick ratio of 0.54. SJW Group has a 52-week low of $45.60 and a 52-week high of $74.99.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 2.14%. SJW Group’s dividend payout ratio (DPR) is presently 71.91%.
In other news, Director Douglas R. King sold 5,348 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $64.27, for a total value of $343,715.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Patrick Lynch sold 705 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $63.67, for a total transaction of $44,887.35. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of SJW Group in the 1st quarter valued at $32,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of SJW Group in the 1st quarter valued at $36,000. Nisa Investment Advisors LLC acquired a new stake in shares of SJW Group in the 1st quarter valued at $64,000. Strs Ohio acquired a new stake in shares of SJW Group in the 1st quarter valued at $80,000. Finally, Vestcor Investment Management Corp acquired a new stake in shares of SJW Group in the 4th quarter valued at $108,000. Institutional investors and hedge funds own 69.37% 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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