SJW Group (NYSE:SJW) Trading 2.1% Higher – Here’s What Happened

Shares of SJW Group (NYSE:SJW) rose 2.1% during trading on Friday . The stock traded as high as $53.43 and last traded at $53.39. Approximately 112,466 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 218,018 shares. The stock had previously closed at $52.28.

Analysts Set New Price Targets

Several research firms have recently weighed in on SJW. StockNews.com raised shares of SJW Group from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of SJW Group from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $59.00 to $55.00 in a research note on Monday, February 3rd.

SJW Group Trading Up 2.5 %

The company’s 50-day moving average is $51.99 and its 200-day moving average is $53.60. 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 cap of $1.80 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.94 and a beta of 0.58.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a dividend of $0.42 per share. This is a boost from SJW Group’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, February 10th. SJW Group’s dividend payout ratio is 58.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in shares of SJW Group by 197.0% in the 4th quarter. First Trust Advisors LP now owns 1,317,721 shares of the utilities provider’s stock valued at $64,858,000 after buying an additional 873,973 shares during the period. Norges Bank acquired a new stake in SJW Group in the fourth quarter worth about $10,255,000. JPMorgan Chase & Co. raised its holdings in SJW Group by 131.4% during the 4th quarter. JPMorgan Chase & Co. now owns 153,687 shares of the utilities provider’s stock worth $7,564,000 after purchasing an additional 87,260 shares during the last quarter. Vanguard Group Inc. lifted its position in SJW Group by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 2,617,642 shares of the utilities provider’s stock valued at $128,840,000 after purchasing an additional 72,081 shares during the period. Finally, Nuance Investments LLC boosted its stake in shares of SJW Group by 4.3% in the 4th quarter. Nuance Investments LLC now owns 1,256,548 shares of the utilities provider’s stock valued at $61,872,000 after purchasing an additional 52,029 shares during the last quarter. Institutional investors own 84.29% 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.