SJW Group (NYSE:SJW) Stock Price Up 5% – Here’s What Happened

SJW Group (NYSE:SJW) rose 5% on Monday . The company traded as high as $48.45 and last traded at $48.36. Approximately 141,630 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 221,432 shares. The stock had previously closed at $46.07.

Wall Street Analysts Forecast Growth

SJW has been the subject of a number of analyst reports. StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Wells Fargo & Company reduced their price target on SJW Group from $61.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th.

SJW Group Stock Up 6.4 %

The business has a fifty day moving average of $50.85 and a two-hundred day moving average of $55.65. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.37 and a beta of 0.65. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25.

Hedge Funds Weigh In On SJW Group

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew 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 purchasing an additional 13,614 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SJW Group by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider’s stock valued at $21,499,000 after purchasing an additional 20,646 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of SJW Group by 29.4% in the third quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock valued at $12,337,000 after purchasing an additional 48,200 shares in the last quarter. Millennium Management LLC grew its position in shares of SJW Group by 2,491.2% in the second quarter. Millennium Management LLC now owns 113,781 shares of the utilities provider’s stock valued at $6,169,000 after purchasing an additional 109,390 shares in the last quarter. Finally, FMR LLC grew its position in shares of 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. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.