Exchange Traded Concepts LLC Lowers Stock Position in SJW Group (NYSE:SJW)

Exchange Traded Concepts LLC decreased its holdings in SJW Group (NYSE:SJW) by 32.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,968 shares of the utilities provider’s stock after selling 6,729 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SJW Group were worth $812,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SJW. CWM LLC raised its holdings in shares of SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after buying an additional 337 shares during the last quarter. Chris Bulman Inc acquired a new stake in SJW Group during the 2nd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of SJW Group by 576.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 761 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of SJW Group by 87.0% in the first quarter. SG Americas Securities LLC now owns 3,608 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,679 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of SJW Group during the first quarter worth approximately $247,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SJW shares. Wells Fargo & Company lifted their price objective on shares of SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Bank of America started coverage on shares of SJW Group in a report on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price on the stock.

SJW Group Stock Down 1.4 %

SJW Group stock opened at $59.56 on Friday. The stock’s 50 day moving average price is $58.58 and its 200 day moving average price is $56.71. SJW Group has a 1-year low of $51.17 and a 1-year high of $70.43. The company has a market cap of $1.95 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 3.55 and a beta of 0.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.49.

SJW Group (NYSE:SJW) last posted its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $176.17 million for the quarter, compared to analysts’ expectations of $165.10 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. On average, sell-side analysts predict that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. SJW Group’s dividend payout ratio (DPR) is presently 58.82%.

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.