Edgestream Partners L.P. Reduces Stock Position in SJW Group (NYSE:SJW)

Edgestream Partners L.P. lowered its position in shares of SJW Group (NYSE:SJW) by 44.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,655 shares of the utilities provider’s stock after selling 19,185 shares during the period. Edgestream Partners L.P.’s holdings in SJW Group were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in SJW Group by 133.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider’s stock valued at $1,206,000 after buying an additional 12,182 shares during the period. Assenagon Asset Management S.A. raised its holdings in SJW Group by 26.7% in the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SJW Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,031 shares of the utilities provider’s stock worth $20,326,000 after purchasing an additional 14,853 shares in the last quarter. ProShare Advisors LLC raised its holdings in SJW Group by 16.2% in the 1st quarter. ProShare Advisors LLC now owns 142,844 shares of the utilities provider’s stock worth $8,084,000 after purchasing an additional 19,925 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in SJW Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock worth $161,136,000 after purchasing an additional 78,289 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

SJW Group Stock Performance

Shares of NYSE SJW opened at $58.37 on Friday. The firm’s 50-day moving average price is $59.24 and its 200-day moving average price is $56.53. 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 $1.91 billion, a PE ratio of 22.01, a PEG ratio of 2.94 and a beta of 0.63. SJW Group has a 52-week low of $51.17 and a 52-week high of $70.43.

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

SJW Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, August 5th. SJW Group’s payout ratio is 60.15%.

Analysts Set New Price Targets

Several research analysts have commented on SJW shares. Bank of America started coverage on shares of SJW Group in a report on Friday. They issued a “neutral” rating and a $65.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of SJW Group from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, SJW Group has a consensus rating of “Hold” and a consensus price target of $62.67.

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.