First Manhattan Co. Increases Stock Position in SJW Group (NYSE:SJW)

First Manhattan Co. raised its holdings in SJW Group (NYSE:SJWGet Rating) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,184 shares of the utilities provider’s stock after purchasing an additional 940 shares during the quarter. First Manhattan Co. owned 0.68% of SJW Group worth $14,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its stake in shares of SJW Group by 3.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,333 shares of the utilities provider’s stock worth $683,000 after acquiring an additional 288 shares in the last quarter. Chatham Capital Group Inc. boosted its stake in shares of SJW Group by 1.4% during the 1st quarter. Chatham Capital Group Inc. now owns 24,849 shares of the utilities provider’s stock worth $1,729,000 after acquiring an additional 333 shares in the last quarter. Humankind Investments LLC boosted its stake in shares of SJW Group by 11.9% during the 1st quarter. Humankind Investments LLC now owns 3,184 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 338 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of SJW Group by 7.0% during the 1st quarter. Teacher Retirement System of Texas now owns 5,850 shares of the utilities provider’s stock worth $407,000 after acquiring an additional 385 shares in the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of SJW Group by 55.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 72.05% of the company’s stock.

SJW Group Trading Up 1.7 %

Shares of SJW opened at $65.83 on Tuesday. The stock has a fifty day moving average of $65.02 and a two-hundred day moving average of $63.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $1.99 billion, a PE ratio of 37.83 and a beta of 0.55. SJW Group has a fifty-two week low of $55.74 and a fifty-two week high of $73.69.

SJW Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were issued a $0.36 dividend. The ex-dividend date was Friday, August 5th. This is an increase from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.44 annualized dividend and a yield of 2.19%. SJW Group’s payout ratio is 82.76%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SJW. Wells Fargo & Company downgraded SJW Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $67.00 to $66.00 in a research report on Thursday, June 2nd. Barclays cut their price objective on SJW Group from $72.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Finally, TheStreet downgraded SJW Group from a “b-” rating to a “c+” rating in a research report on Thursday, May 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.00.

SJW Group Profile

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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 and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.

See Also

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Institutional Ownership by Quarter for SJW Group (NYSE:SJW)

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