SJW Group (NYSE:SJW) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its stake in shares of SJW Group (NYSE:SJW) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,500 shares of the utilities provider’s stock after selling 900 shares during the quarter. Gabelli Funds LLC’s holdings in SJW Group were worth $10,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in SJW Group during the 1st quarter valued at approximately $33,000. Point72 Hong Kong Ltd acquired a new position in SJW Group during the 2nd quarter valued at approximately $28,000. US Bancorp DE boosted its position in SJW Group by 263.8% during the 2nd quarter. US Bancorp DE now owns 462 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 335 shares during the period. Lazard Asset Management LLC acquired a new position in SJW Group during the 4th quarter valued at approximately $57,000. Finally, NewEdge Advisors LLC boosted its position in SJW Group by 1,822.7% during the 1st quarter. NewEdge Advisors LLC now owns 846 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 802 shares during the period. Institutional investors and hedge funds own 72.89% of the company’s stock.

SJW Group Trading Down 1.3 %

Shares of SJW Group stock opened at $64.55 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 20.36 and a beta of 0.59. The business has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $67.61. SJW Group has a fifty-two week low of $56.96 and a fifty-two week high of $83.88.

SJW Group (NYSE:SJW) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.17. The company had revenue of $204.80 million for the quarter, compared to analyst estimates of $186.93 million. SJW Group had a return on equity of 8.53% and a net margin of 14.85%. SJW Group’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, equities analysts forecast that SJW Group will post 2.7 EPS for the current fiscal year.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 2.35%. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s payout ratio is 47.95%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on SJW Group from $85.00 to $76.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 6th. StockNews.com assumed coverage on SJW Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. UBS Group reduced their price target on SJW Group from $78.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Finally, Wells Fargo & Company upgraded SJW Group from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $67.00 to $61.00 in a research report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.25.

About SJW Group

SJW Group, through its subsidiaries, provides water utility services in the United States. It operates in two segments, Water Utility Services and Real Estate Services. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services.