Allspring Global Investments Holdings LLC Decreases Stake in SJW Group (NYSE:SJW)

Allspring Global Investments Holdings LLC cut its stake in shares of SJW Group (NYSE:SJW) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,024 shares of the utilities provider’s stock after selling 3,117 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of SJW Group worth $1,309,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SJW. International Assets Investment Management LLC grew its stake in SJW Group by 6,435.0% during the 4th quarter. International Assets Investment Management LLC now owns 18,494 shares of the utilities provider’s stock valued at $1,209,000 after purchasing an additional 18,211 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in SJW Group by 3.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,666 shares of the utilities provider’s stock worth $1,089,000 after buying an additional 487 shares during the period. New York State Teachers Retirement System raised its position in SJW Group by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 18,427 shares of the utilities provider’s stock worth $1,204,000 after buying an additional 300 shares during the last quarter. Clean Yield Group lifted its stake in SJW Group by 11.5% during the 4th quarter. Clean Yield Group now owns 88,360 shares of the utilities provider’s stock valued at $5,774,000 after acquiring an additional 9,123 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of SJW Group by 26.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 107,343 shares of the utilities provider’s stock valued at $7,015,000 after acquiring an additional 22,223 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

SJW Group Trading Down 0.3 %

SJW stock opened at $54.09 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.24. SJW Group has a 52-week low of $51.37 and a 52-week high of $79.41. The company’s 50-day simple moving average is $56.21 and its 200-day simple moving average is $60.72. The firm has a market cap of $1.73 billion, a P/E ratio of 20.26, a PEG ratio of 2.63 and a beta of 0.58.

SJW Group (NYSE:SJW) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $171.34 million during the quarter, compared to analyst estimates of $161.23 million. SJW Group had a net margin of 12.68% and a return on equity of 7.10%. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, equities analysts forecast that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. SJW Group’s dividend payout ratio (DPR) is currently 59.93%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SJW. Wells Fargo & Company raised their target price on shares of SJW Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Seaport Res Ptn upgraded SJW Group from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.00.

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.