Macquarie Group Ltd. lowered its position in SJW Group (NYSE:SJW – Get Rating) by 42.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,496 shares of the utilities provider's stock after selling 9,970 shares during the period. Macquarie Group Ltd.'s holdings in SJW Group were worth $787,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi lifted its position in shares of SJW Group by 37.9% during the 2nd quarter. Amundi now owns 1,016,175 shares of the utilities provider's stock valued at $63,401,000 after acquiring an additional 279,283 shares during the period. State Street Corp raised its holdings in SJW Group by 20.3% during the first quarter. State Street Corp now owns 723,805 shares of the utilities provider's stock worth $50,362,000 after buying an additional 122,215 shares during the last quarter. Eaton Vance Management raised its holdings in SJW Group by 6,669.0% during the first quarter. Eaton Vance Management now owns 103,363 shares of the utilities provider's stock worth $7,192,000 after buying an additional 101,836 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in SJW Group during the second quarter worth $5,448,000. Finally, Prudential Financial Inc. acquired a new position in SJW Group during the second quarter worth $2,575,000. Institutional investors and hedge funds own 72.08% of the company's stock.
Get SJW Group alerts:SJW Group Stock Down 0.8 %
Shares of NYSE SJW opened at $74.41 on Monday. SJW Group has a one year low of $55.74 and a one year high of $83.88. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.58 and a quick ratio of 0.58. The firm's 50 day simple moving average is $77.97 and its two-hundred day simple moving average is $72.33. The stock has a market capitalization of $2.30 billion, a P/E ratio of 30.88 and a beta of 0.57.
SJW Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Monday, February 6th were issued a $0.38 dividend. This is a boost from SJW Group's previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 3rd. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. SJW Group's dividend payout ratio (DPR) is currently 63.07%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Royal Bank of Canada lowered shares of SJW Group from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from $76.00 to $85.00 in a research note on Tuesday, January 17th. Wells Fargo & Company upped their price objective on shares of SJW Group from $72.00 to $78.00 in a report on Wednesday, December 14th. JPMorgan Chase & Co. downgraded shares of SJW Group from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $86.00 to $84.00 in a report on Tuesday, February 7th. UBS Group started coverage on shares of SJW Group in a research note on Wednesday, November 30th. They issued a "buy" rating and a $85.00 target price on the stock. Finally, Seaport Res Ptn downgraded shares of SJW Group from a "buy" rating to a "neutral" rating in a research note on Thursday, January 5th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SJW Group currently has an average rating of "Hold" and an average price target of $79.40.
About SJW Group
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SJW Group operates as a holding company, which through its subsidiaries provides water utility services. It operates through the Water Utility Services and Real Estate Services segments. The Water Utility Services segment offers water utility and utility-related services. The Real Estate Services segment engages in property management and investment activity.
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