SJW Group (NYSE:SJW) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of SJW Group (NYSE:SJW) by 2,491.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,781 shares of the utilities provider’s stock after purchasing an additional 109,390 shares during the quarter. Millennium Management LLC owned 0.35% of SJW Group worth $6,169,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SJW. Nuance Investments LLC increased its position in shares of SJW Group by 17.5% in the second quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider’s stock worth $84,877,000 after acquiring an additional 233,601 shares in the last quarter. Vanguard Group Inc. boosted its position in SJW Group by 3.3% during 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. Confluence Investment Management LLC acquired a new stake in SJW Group in the 1st quarter valued at $3,202,000. Edgestream Partners L.P. purchased a new stake in shares of SJW Group in the first quarter worth about $2,424,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of SJW Group by 144.6% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 64,359 shares of the utilities provider’s stock valued at $3,490,000 after buying an additional 38,044 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Price Performance

Shares of SJW stock opened at $56.37 on Friday. The firm has a market cap of $1.84 billion, a P/E ratio of 21.19, a P/E/G ratio of 3.53 and a beta of 0.62. The firm has a fifty day moving average of $58.59 and a two-hundred day moving average of $56.61. 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 1-year low of $51.17 and a 1-year high of $70.43.

SJW Group (NYSE:SJW) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $165.10 million. As a group, research analysts anticipate that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. SJW Group’s payout ratio is currently 60.15%.

Analysts Set New Price Targets

SJW has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target 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. Bank of America assumed coverage on SJW Group in a report on Friday, September 20th. They set a “neutral” rating and a $65.00 price objective on the stock.

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.