Raymond James & Associates Buys 9,165 Shares of SJW Group (NYSE:SJW)

Raymond James & Associates grew its stake in SJW Group (NYSE:SJW) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,852 shares of the utilities provider’s stock after purchasing an additional 9,165 shares during the quarter. Raymond James & Associates owned approximately 0.35% of SJW Group worth $6,173,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SJW. International Assets Investment Management LLC lifted its holdings in shares of SJW Group by 6,435.0% in the fourth quarter. International Assets Investment Management LLC now owns 18,494 shares of the utilities provider’s stock valued at $1,209,000 after purchasing an additional 18,211 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of SJW Group by 12.8% in the fourth quarter. Handelsbanken Fonder AB now owns 7,746 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 881 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SJW Group by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 225,181 shares of the utilities provider’s stock valued at $14,716,000 after purchasing an additional 6,330 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of SJW Group by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 35,104 shares of the utilities provider’s stock valued at $2,294,000 after purchasing an additional 467 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SJW Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,031 shares of the utilities provider’s stock valued at $20,326,000 after purchasing an additional 14,853 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

SJW Group Stock Performance

Shares of SJW opened at $58.01 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.87 and a beta of 0.61. The stock has a 50 day moving average of $57.36 and a 200 day moving average of $56.38. SJW Group has a 12 month low of $51.17 and a 12 month high of $70.43.

SJW Group (NYSE:SJW) last issued its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. SJW Group had a return on equity of 7.10% and a net margin of 12.48%. The company had revenue of $176.17 million during the quarter, compared to the consensus estimate of $165.10 million. As a group, sell-side analysts forecast that SJW Group will post 2.76 earnings per share for the current year.

SJW Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, August 5th. SJW Group’s dividend payout ratio is currently 60.15%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price target on SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Four research 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 has an average rating of “Hold” and an average target price of $66.33.

SJW Group Company 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.