SJW Group (NYSE:SJW) Position Trimmed by State Street Corp

State Street Corp decreased its holdings in shares of SJW Group (NYSE:SJW) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,610,337 shares of the utilities provider’s stock after selling 38,702 shares during the period. State Street Corp owned about 4.92% of SJW Group worth $93,577,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SJW. CWM LLC grew its position in SJW Group by 184.2% in the 2nd quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after buying an additional 337 shares in the last quarter. Chris Bulman Inc acquired a new stake in SJW Group in the 2nd quarter valued at about $30,000. Point72 DIFC Ltd lifted its holdings in SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 316 shares during the last quarter. nVerses Capital LLC acquired a new stake in SJW Group in the 3rd quarter valued at about $46,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in 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 acquiring an additional 761 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Analysts Set New Price Targets

SJW has been the subject of a number of research analyst reports. StockNews.com downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Wells Fargo & Company cut their price target on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Bank of America assumed coverage on shares of SJW Group in a report on Friday, September 20th. They issued a “neutral” rating and a $65.00 price target for the company.

SJW Group Stock Performance

Shares of SJW opened at $53.90 on Tuesday. SJW Group has a one year low of $51.17 and a one year high of $68.84. The company has a 50-day moving average of $55.79 and a two-hundred day moving average of $56.69. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 3.26 and a beta of 0.62. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77.

SJW Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, November 4th. SJW Group’s payout ratio is 57.97%.

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.