Rhumbline Advisers Trims Stake in SJW Group (NYSE:SJW)

Rhumbline Advisers lowered its holdings in SJW Group (NYSE:SJW) by 8.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,108 shares of the utilities provider’s stock after selling 10,329 shares during the period. Rhumbline Advisers’ holdings in SJW Group were worth $6,241,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SJW. Comerica Bank raised its position in SJW Group by 1.0% in the 4th quarter. Comerica Bank now owns 18,600 shares of the utilities provider’s stock worth $1,215,000 after purchasing an additional 182 shares during the period. Maryland State Retirement & Pension System grew its position in SJW Group by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 35,299 shares of the utilities provider’s stock worth $1,850,000 after acquiring an additional 195 shares during the last quarter. Chatham Capital Group Inc. increased its stake in SJW Group by 1.2% in the 2nd quarter. Chatham Capital Group Inc. now owns 26,552 shares of the utilities provider’s stock worth $1,440,000 after purchasing an additional 320 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of SJW Group by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 25,432 shares of the utilities provider’s stock worth $1,439,000 after purchasing an additional 329 shares during the last quarter. Finally, CWM LLC increased its stake in shares of SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock worth $28,000 after buying an additional 337 shares during the period. Institutional investors own 84.29% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price target on SJW Group from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th.

SJW Group Trading Up 2.5 %

SJW Group stock opened at $59.64 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.49. SJW Group has a one year low of $51.17 and a one year high of $70.43. The stock has a market capitalization of $1.95 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.81 and a beta of 0.63. The business’s fifty day moving average is $58.81 and its 200 day moving average is $56.40.

SJW Group (NYSE:SJW) last announced its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.66 earnings per share (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. On average, sell-side analysts predict that SJW Group will post 2.76 EPS for the current year.

SJW Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date was Monday, August 5th. SJW Group’s dividend payout ratio is presently 60.15%.

About SJW Group

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.