SJW Group (NYSE:SJW) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of SJW Group (NYSE:SJW) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Other analysts have also recently issued reports about the company. Bank of America initiated coverage on SJW Group in a research report on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price for the company. Wells Fargo & Company decreased their price objective on SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday.

SJW Group Price Performance

Shares of SJW opened at $56.17 on Tuesday. 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 1-year low of $51.17 and a 1-year high of $70.43. The stock has a market cap of $1.84 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.42 and a beta of 0.62. The firm has a fifty day moving average price of $58.43 and a 200 day moving average price of $56.92.

SJW Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, November 4th. SJW Group’s dividend payout ratio is currently 58.82%.

Institutional Trading of SJW Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in SJW Group by 9.1% during the 3rd quarter. Van ECK Associates Corp now owns 9,043 shares of the utilities provider’s stock worth $530,000 after acquiring an additional 755 shares during the period. US Bancorp DE raised its stake in shares of SJW Group by 53.8% during the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 439 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of SJW Group during the third quarter worth $215,000. Ballentine Partners LLC purchased a new position in SJW Group in the 3rd quarter valued at $319,000. Finally, E. Ohman J or Asset Management AB increased its stake in SJW Group by 7.6% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 32,533 shares of the utilities provider’s stock valued at $1,890,000 after buying an additional 2,300 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.