SJW Group (NYSE:SJW) Sees Large Decrease in Short Interest

SJW Group (NYSE:SJW) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 543,300 shares, a decline of 28.2% from the November 15th total of 756,700 shares. Based on an average trading volume of 203,300 shares, the short-interest ratio is currently 2.7 days.

Institutional Investors Weigh In On SJW Group

Large investors have recently modified their holdings of the business. Arizona State Retirement System grew its holdings in shares of SJW Group by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,526 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 189 shares during the last quarter. Point72 DIFC Ltd increased its holdings in shares of SJW Group by 81.4% during the third quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after buying an additional 316 shares in the last quarter. CWM LLC lifted its stake in shares of SJW Group by 184.2% in the 2nd quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 337 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of SJW Group by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the utilities provider’s stock valued at $802,000 after acquiring an additional 400 shares during the last quarter. Finally, US Bancorp DE grew its position in SJW Group by 53.8% during the 3rd quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 439 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Price Performance

SJW Group stock traded up $0.78 during trading hours on Friday, reaching $54.33. 162,107 shares of the stock were exchanged, compared to its average volume of 190,562. The stock has a 50 day moving average of $55.86 and a two-hundred day moving average of $56.64. SJW Group has a twelve month low of $51.17 and a twelve month high of $70.43. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The company has a market cap of $1.78 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 3.20 and a beta of 0.62.

SJW Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SJW shares. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Bank of America started coverage on shares of SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

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.