Rhumbline Advisers Sells 10,329 Shares of SJW Group (NYSE:SJW)

Rhumbline Advisers cut its position in SJW Group (NYSE:SJW) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,108 shares of the utilities provider’s stock after selling 10,329 shares during the quarter. Rhumbline Advisers owned about 0.36% of SJW Group worth $6,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of SJW Group by 133.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider’s stock worth $1,206,000 after acquiring an additional 12,182 shares during the last quarter. Assenagon Asset Management S.A. raised its position in SJW Group by 26.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 164,099 shares of the utilities provider’s stock worth $8,897,000 after purchasing an additional 34,607 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SJW Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,031 shares of the utilities provider’s stock valued at $20,326,000 after buying an additional 14,853 shares during the period. ProShare Advisors LLC increased its position in SJW Group by 16.2% during the 1st quarter. ProShare Advisors LLC now owns 142,844 shares of the utilities provider’s stock valued at $8,084,000 after purchasing an additional 19,925 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of SJW Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock worth $161,136,000 after purchasing an additional 78,289 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on shares of SJW Group from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th.

SJW Group Trading Up 2.5 %

SJW opened at $59.64 on Friday. The firm has a market capitalization of $1.95 billion, a PE ratio of 22.42, a P/E/G ratio of 2.81 and a beta of 0.63. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.49. SJW Group has a fifty-two week low of $51.17 and a fifty-two week high of $70.43. The company’s 50-day moving average is $58.81 and its 200 day moving average is $56.40.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.57 by $0.09. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. The company had revenue of $176.17 million during the quarter, compared to the consensus estimate of $165.10 million. As a group, research analysts predict that SJW Group will post 2.76 earnings per share for the current fiscal year.

SJW Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, August 5th. SJW Group’s dividend payout ratio (DPR) is currently 60.15%.

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.