Gabelli Funds LLC Lowers Stock Holdings in SJW Group (NYSE:SJW)

Gabelli Funds LLC lowered its position in shares of SJW Group (NYSE:SJW) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,500 shares of the utilities provider’s stock after selling 900 shares during the quarter. Gabelli Funds LLC owned approximately 0.49% of SJW Group worth $10,972,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in shares of SJW Group during the second quarter valued at approximately $919,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SJW Group by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,567 shares of the utilities provider’s stock valued at $1,091,000 after acquiring an additional 2,105 shares during the last quarter. US Bancorp DE raised its holdings in shares of SJW Group by 263.8% during the second quarter. US Bancorp DE now owns 462 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SJW Group by 5.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 278,993 shares of the utilities provider’s stock valued at $19,560,000 after acquiring an additional 13,381 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of SJW Group by 75.2% during the second quarter. Citigroup Inc. now owns 21,022 shares of the utilities provider’s stock valued at $1,474,000 after acquiring an additional 9,023 shares during the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com assumed coverage on SJW Group in a report on Thursday, October 5th. They set a “hold” rating for the company. UBS Group cut their price target on SJW Group from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, October 4th. Wells Fargo & Company raised SJW Group from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $67.00 to $61.00 in a report on Wednesday, October 25th. Finally, Royal Bank of Canada cut their price target on SJW Group from $85.00 to $76.00 and set a “sector perform” rating for the company in a report on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.25.

SJW Group Trading Down 1.3 %

Shares of SJW Group stock opened at $64.55 on Tuesday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.36 and a beta of 0.59. SJW Group has a fifty-two week low of $56.96 and a fifty-two week high of $83.88. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a 50 day moving average of $61.61 and a 200 day moving average of $67.61.

SJW Group (NYSE:SJW) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $0.96 by $0.17. SJW Group had a return on equity of 8.53% and a net margin of 14.85%. The business had revenue of $204.80 million during the quarter, compared to analyst estimates of $186.93 million. During the same period last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts predict that SJW Group will post 2.7 earnings per share for the current year.

SJW Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 6th will be given a dividend of $0.38 per share. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.52 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, November 3rd. SJW Group’s dividend payout ratio (DPR) is currently 47.95%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility services in the United States. It operates in two segments, Water Utility Services and Real Estate Services. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services.