Algert Global LLC Purchases 3,066 Shares of SJW Group (NYSE:SJW)

Algert Global LLC increased its holdings in shares of SJW Group (NYSE:SJW) by 75.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,116 shares of the utilities provider’s stock after acquiring an additional 3,066 shares during the period. Algert Global LLC’s holdings in SJW Group were worth $386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 337 shares during the last quarter. Chris Bulman Inc bought a new position in shares of SJW Group during the 2nd quarter worth $30,000. C M Bidwell & Associates Ltd. purchased a new position in shares of SJW Group during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of SJW Group by 576.5% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 761 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in SJW Group by 87.0% in the first quarter. SG Americas Securities LLC now owns 3,608 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 1,679 shares during the period. Institutional investors own 84.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SJW. Bank of America assumed coverage on SJW Group in a report on Friday, September 20th. They issued a “neutral” rating and a $65.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, July 26th.

SJW Group Price Performance

Shares of NYSE SJW opened at $57.19 on Tuesday. The firm’s 50 day simple moving average is $58.84 and its 200-day simple moving average is $56.60. SJW Group has a 12 month low of $51.17 and a 12 month high of $70.43. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 3.50 and a beta of 0.62. 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 (NYSE:SJW) last posted its earnings results on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The firm had revenue of $176.17 million for the quarter, compared to analysts’ expectations of $165.10 million. SJW Group had a return on equity of 7.10% and a net margin of 12.48%. Analysts expect that SJW Group will post 2.75 EPS for the current year.

SJW Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, August 5th. SJW Group’s payout ratio is 60.15%.

SJW Group 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.