Meeder Asset Management Inc. Purchases Shares of 2,407 SJW Group (NYSE:SJW)

Meeder Asset Management Inc. purchased a new stake in shares of SJW Group (NYSE:SJW) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,407 shares of the utilities provider’s stock, valued at approximately $140,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in SJW Group by 184.2% during the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 337 shares during the last quarter. Chris Bulman Inc acquired a new position in SJW Group during the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in SJW Group during the third quarter valued at approximately $46,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in SJW Group by 576.5% during the second 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. Finally, US Bancorp DE grew its holdings in SJW Group by 53.8% during the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Trading Down 0.3 %

Shares of SJW Group stock opened at $55.00 on Thursday. The company’s fifty day simple moving average is $57.29 and its 200-day simple moving average is $57.03. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.29 and a beta of 0.63. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a 1 year low of $51.17 and a 1 year high of $70.43.

SJW Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. SJW Group’s dividend payout ratio is currently 57.97%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SJW. StockNews.com downgraded SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Wells Fargo & Company lowered their price objective on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Bank of America began coverage on shares of SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 price objective on the stock.

SJW Group Profile

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.