Handelsbanken Fonder AB Increases Holdings in SJW Group (NYSE:SJW)

Handelsbanken Fonder AB increased its stake in SJW Group (NYSE:SJW) by 35.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 10,920 shares of the utilities provider’s stock after buying an additional 2,855 shares during the quarter. Handelsbanken Fonder AB’s holdings in SJW Group were worth $635,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 337 shares during the last quarter. Chris Bulman Inc purchased a new position in shares of SJW Group during the 2nd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 761 shares during the period. SG Americas Securities LLC increased its holdings in SJW Group by 87.0% in the 1st quarter. SG Americas Securities LLC now owns 3,608 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 1,679 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in SJW Group in the 1st quarter valued at about $247,000. Institutional investors own 84.29% of the company’s stock.

SJW Group Stock Up 1.9 %

Shares of NYSE SJW opened at $57.45 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.88 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.42 and a beta of 0.62. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43. The business has a 50-day simple moving average of $58.51 and a two-hundred day simple moving average of $56.63.

SJW Group (NYSE:SJW) last released its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The company had revenue of $176.17 million during the quarter, compared to analyst estimates of $165.10 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. Research analysts anticipate that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. SJW Group’s payout ratio is currently 58.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America began coverage on shares of SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th.

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.