SJW Group (NYSE:SJW) Shares Down 4.2% – Here’s Why

SJW Group (NYSE:SJW) was down 4.2% on Wednesday . The stock traded as low as $46.07 and last traded at $46.20. Approximately 53,377 shares traded hands during trading, a decline of 75% from the average daily volume of 214,918 shares. The stock had previously closed at $48.22.

Analyst Upgrades and Downgrades

Several research firms recently commented on SJW. StockNews.com downgraded SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lowered their price target on shares of SJW Group from $61.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th.

SJW Group Stock Performance

The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $1.51 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 3.52 and a beta of 0.65. The stock has a 50-day moving average of $51.35 and a 200 day moving average of $55.82.

SJW Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.40 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.47%. SJW Group’s dividend payout ratio (DPR) is currently 57.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SJW. Duff & Phelps Investment Management Co. acquired a new stake in SJW Group in the 3rd quarter valued at $1,593,000. Geode Capital Management LLC increased its position in shares of SJW Group by 1.9% in the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider’s stock valued at $42,006,000 after acquiring an additional 13,614 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SJW Group by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider’s stock worth $21,499,000 after acquiring an additional 20,646 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in SJW Group during the third quarter valued at approximately $620,000. Finally, FMR LLC grew its stake in SJW Group by 37.5% in the third quarter. FMR LLC now owns 92,386 shares of the utilities provider’s stock valued at $5,369,000 after purchasing an additional 25,212 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.