SJW Group (NYSE:SJW) Given Consensus Recommendation of “Hold” by Brokerages

SJW Group (NYSE:SJW) has received an average recommendation of “Hold” from the three analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $63.00.

Several research analysts recently commented on SJW shares. Wells Fargo & Company decreased their target price on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Bank of America started coverage on SJW Group in a research note on Friday, September 20th. They set a “neutral” rating and a $65.00 target price on the stock.

SJW Group Price Performance

SJW opened at $56.58 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 3.30 and a beta of 0.63. The business’s 50-day moving average is $58.13 and its two-hundred day moving average is $57.01. SJW Group has a 1 year low of $51.17 and a 1 year high of $70.43. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77.

SJW Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. SJW Group’s payout ratio is 57.97%.

Hedge Funds Weigh In On SJW Group

Several hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in SJW Group by 133.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider’s stock worth $1,206,000 after buying an additional 12,182 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of SJW Group by 26.7% during the second quarter. Assenagon Asset Management S.A. now owns 164,099 shares of the utilities provider’s stock worth $8,897,000 after purchasing an additional 34,607 shares during the last quarter. ProShare Advisors LLC lifted its position in SJW Group by 16.2% during the first quarter. ProShare Advisors LLC now owns 142,844 shares of the utilities provider’s stock valued at $8,084,000 after purchasing an additional 19,925 shares during the period. Boston Partners purchased a new stake in SJW Group in the first quarter valued at $597,000. Finally, Keynote Financial Services LLC acquired a new stake in SJW Group during the 1st quarter worth about $1,555,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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.