SJW Group (SJW) Stake Boosted by Comerica Bank
Comerica Bank lifted its holdings in SJW Group (NYSE:SJW) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,360 shares of the utilities provider’s stock after purchasing an additional 176 shares during the period. Comerica Bank’s holdings in SJW Group were worth $1,013,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. FMR LLC increased its stake in SJW Group by 35,654.3% during the fourth quarter. FMR LLC now owns 440,851 shares of the utilities provider’s stock valued at $24,520,000 after acquiring an additional 439,618 shares during the period. Maple Brown Abbott Ltd bought a new position in SJW Group during the fourth quarter valued at about $23,294,000. Shelter Harbor Advisors LP bought a new position in SJW Group during the fourth quarter valued at about $13,905,000. Norges Bank bought a new position in SJW Group during the fourth quarter valued at about $13,329,000. Finally, Granite Investment Partners LLC bought a new position in SJW Group during the fourth quarter valued at about $13,096,000. Institutional investors and hedge funds own 68.06% of the company’s stock.
NYSE SJW opened at $62.23 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.63 and a current ratio of 5.63. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 4.37 and a beta of 0.08. SJW Group has a 1-year low of $51.82 and a 1-year high of $68.42.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 6th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 3rd. SJW Group’s payout ratio is 47.81%.
Several brokerages recently issued reports on SJW. Zacks Investment Research lowered SJW Group from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Wells Fargo & Co set a $72.00 price target on SJW Group and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine lowered SJW Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group assumed coverage on SJW Group in a research note on Wednesday, May 15th. They set a “neutral” rating and a $64.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.60.
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SJW Group Profile
SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.
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