Confluence Investment Management LLC Sells 2,197 Shares of SJW Group (NYSE:SJW)

Confluence Investment Management LLC lessened its holdings in shares of SJW Group (NYSE:SJW) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,391 shares of the utilities provider’s stock after selling 2,197 shares during the period. Confluence Investment Management LLC owned 0.17% of SJW Group worth $2,949,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SJW. Vanguard Group Inc. boosted its stake in SJW Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock worth $161,136,000 after purchasing an additional 78,289 shares in the last quarter. Nuance Investments LLC lifted its stake in SJW Group by 18.9% during the 1st quarter. Nuance Investments LLC now owns 1,331,827 shares of the utilities provider’s stock valued at $75,368,000 after acquiring an additional 211,638 shares during the period. Dimensional Fund Advisors LP lifted its stake in SJW Group by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 724,742 shares of the utilities provider’s stock valued at $47,363,000 after acquiring an additional 27,301 shares during the period. KBC Group NV lifted its stake in SJW Group by 16.2% during the 4th quarter. KBC Group NV now owns 474,598 shares of the utilities provider’s stock valued at $31,015,000 after acquiring an additional 66,238 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in SJW Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,031 shares of the utilities provider’s stock valued at $20,326,000 after acquiring an additional 14,853 shares during the period. Institutional investors own 84.29% of the company’s stock.

SJW Group Stock Performance

SJW Group stock traded up $0.87 during midday trading on Friday, hitting $61.62. The stock had a trading volume of 310,971 shares, compared to its average volume of 198,490. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.22. SJW Group has a 52-week low of $51.17 and a 52-week high of $70.74. The firm’s fifty day moving average is $55.57 and its two-hundred day moving average is $56.63. The company has a market capitalization of $2.02 billion, a PE ratio of 23.17, a P/E/G ratio of 2.94 and a beta of 0.61.

SJW Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Monday, August 5th. SJW Group’s dividend payout ratio (DPR) is currently 60.15%.

Analyst Ratings Changes

Several equities analysts have issued reports on SJW shares. StockNews.com upgraded shares of SJW Group from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their target price on shares of SJW Group from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $66.33.

Insider Buying and Selling at SJW Group

In other news, insider Craig J. Patla sold 1,400 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.62, for a total transaction of $77,868.00. Following the completion of the transaction, the insider now directly owns 3,300 shares in the company, valued at approximately $183,546. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

SJW Group Company Profile

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.