SJW Group (NYSE:SJW) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of SJW Group (NYSE:SJW) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,656 shares of the utilities provider’s stock after selling 860 shares during the period. Truist Financial Corp’s holdings in SJW Group were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SJW. Vanguard Group Inc. increased its stake in SJW Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock valued at $161,136,000 after buying an additional 78,289 shares during the period. Quadrature Capital Ltd acquired a new stake in SJW Group in the fourth quarter valued at about $464,000. Chatham Capital Group Inc. boosted its holdings in SJW Group by 11.5% in the 1st quarter. Chatham Capital Group Inc. now owns 26,232 shares of the utilities provider’s stock valued at $1,484,000 after purchasing an additional 2,700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in SJW Group by 93.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,747 shares of the utilities provider’s stock worth $2,193,000 after purchasing an additional 18,723 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of SJW Group by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 35,299 shares of the utilities provider’s stock worth $1,850,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

SJW Group Price Performance

SJW stock opened at $59.57 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.55 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. The firm has a 50 day moving average of $58.61 and a 200-day moving average of $56.74. SJW Group has a 12-month low of $51.17 and a 12-month high of $70.43.

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

SJW Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th were given a $0.40 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. SJW Group’s dividend payout ratio is presently 60.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SJW. Bank of America began coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 price target on the stock. Wells Fargo & Company boosted 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 report on Friday, July 26th.

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.