Meeder Asset Management Inc. Purchases New Shares in SJW Group (NYSE:SJW)

Meeder Asset Management Inc. purchased a new stake in SJW Group (NYSE:SJW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,407 shares of the utilities provider’s stock, valued at approximately $140,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC boosted its position in SJW Group by 184.2% during the 2nd quarter. CWM LLC now owns 520 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 337 shares during the period. Chris Bulman Inc purchased a new stake in shares of SJW Group in the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of SJW Group during the third quarter worth approximately $46,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of SJW Group by 576.5% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 761 shares during the period. Finally, US Bancorp DE grew its position in SJW Group by 53.8% during the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SJW. 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 note on Tuesday, October 29th. Bank of America initiated coverage on SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

SJW Group Price Performance

Shares of SJW opened at $55.00 on Thursday. The firm has a market cap of $1.80 billion, a PE ratio of 19.93, a PEG ratio of 3.29 and a beta of 0.63. The firm’s 50 day moving average price is $57.29 and its 200 day moving average price is $57.03. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a twelve month low of $51.17 and a twelve month high of $70.43.

SJW Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

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.