Zacks Investment Research downgraded shares of SJW Group (NYSE:SJW) from a hold rating to a sell rating in a research report report published on Thursday morning.

According to Zacks, “SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. “

Several other brokerages have also issued reports on SJW. ValuEngine raised SJW Group from a hold rating to a buy rating in a research report on Wednesday. Janney Montgomery Scott raised SJW Group from a neutral rating to a buy rating and set a $63.00 target price for the company in a research report on Monday, September 10th.

Shares of NYSE:SJW opened at $59.61 on Thursday. SJW Group has a 52-week low of $51.26 and a 52-week high of $69.29. The company has a market capitalization of $1.21 billion, a PE ratio of 25.47 and a beta of 0.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.59 and a quick ratio of 0.59.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, July 25th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.10). SJW Group had a return on equity of 10.42% and a net margin of 13.00%. The firm had revenue of $99.09 million during the quarter, compared to the consensus estimate of $104.00 million. equities research analysts forecast that SJW Group will post 2.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Monday, August 6th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, August 3rd. SJW Group’s dividend payout ratio (DPR) is presently 49.56%.

A number of hedge funds have recently bought and sold shares of SJW. Advisors Asset Management Inc. increased its position in SJW Group by 44.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,571 shares of the utilities provider’s stock valued at $109,000 after buying an additional 797 shares in the last quarter. Teacher Retirement System of Texas bought a new position in SJW Group during the 2nd quarter valued at approximately $207,000. Xact Kapitalforvaltning AB bought a new position in SJW Group during the 1st quarter valued at approximately $214,000. Brookstone Capital Management bought a new position in SJW Group during the 2nd quarter valued at approximately $227,000. Finally, Raymond James & Associates bought a new position in SJW Group during the 2nd quarter valued at approximately $309,000. 58.77% of the stock is owned by institutional investors.

About SJW Group

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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