TD Asset Management Inc Cuts Stake in SJW Group (NYSE:SJW)

TD Asset Management Inc cut its position in SJW Group (NYSE:SJW) by 24.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,500 shares of the utilities provider’s stock after selling 12,000 shares during the period. TD Asset Management Inc owned approximately 0.11% of SJW Group worth $2,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank boosted its position in shares of SJW Group by 1.0% during the fourth quarter. Comerica Bank now owns 18,600 shares of the utilities provider’s stock valued at $1,215,000 after buying an additional 182 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of 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 valued at $1,850,000 after acquiring an additional 195 shares during the last quarter. Chatham Capital Group Inc. grew its stake in shares of SJW Group by 1.2% in the second quarter. Chatham Capital Group Inc. now owns 26,552 shares of the utilities provider’s stock worth $1,440,000 after acquiring an additional 320 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of SJW Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 25,432 shares of the utilities provider’s stock valued at $1,439,000 after purchasing an additional 329 shares during the last quarter. Finally, CWM LLC lifted its position in SJW Group by 184.2% during the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 337 shares during the period. Institutional investors own 84.29% of the company’s stock.

SJW Group Trading Up 2.5 %

Shares of NYSE:SJW opened at $59.64 on Friday. The stock’s 50-day simple moving average is $58.81 and its two-hundred day simple moving average is $56.40. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.81 and a beta of 0.63. SJW Group has a 52-week low of $51.17 and a 52-week high of $70.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.49 and a current ratio of 0.49.

SJW Group (NYSE:SJW) last issued its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.09. The firm had revenue of $176.17 million for the quarter, compared to analysts’ expectations of $165.10 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. Analysts expect that SJW Group will post 2.76 EPS for the current year.

SJW Group Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.