Point72 Asset Management L.P. Invests $277,000 in SJW Group (NYSE:SJW)

Point72 Asset Management L.P. acquired a new position in SJW Group (NYSE:SJW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,100 shares of the utilities provider’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of SJW Group by 184.2% during the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 337 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of SJW Group during the second quarter valued at $30,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of SJW Group during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of SJW Group by 576.5% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 761 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of SJW Group by 87.0% during the first quarter. SG Americas Securities LLC now owns 3,608 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,679 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

SJW Group Stock Up 1.6 %

Shares of SJW Group stock opened at $58.19 on Friday. The stock has a 50-day moving average price of $58.90 and a 200 day moving average price of $56.59. The company has a market cap of $1.90 billion, a P/E ratio of 21.88, a P/E/G ratio of 3.50 and a beta of 0.62. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.22. SJW Group has a 1 year low of $51.17 and a 1 year high of $70.43.

SJW Group (NYSE:SJW) last announced its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.09. SJW Group had a return on equity of 7.10% and a net margin of 12.48%. The firm had revenue of $176.17 million during the quarter, compared to the consensus estimate of $165.10 million. As a group, analysts expect that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, August 5th. SJW Group’s dividend payout ratio (DPR) is presently 60.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SJW. Wells Fargo & Company upped their target price on SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Bank of America initiated coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 price objective for the company.

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.