Rhumbline Advisers raised its holdings in SJW Group (NYSE:SJW) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,382 shares of the utilities provider’s stock after buying an additional 3,223 shares during the quarter. Rhumbline Advisers’ holdings in SJW Group were worth $2,683,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Cohen & Steers Inc. lifted its stake in SJW Group by 29.3% in the first quarter. Cohen & Steers Inc. now owns 1,047 shares of the utilities provider’s stock valued at $66,000 after buying an additional 237 shares during the period. Arkadios Wealth Advisors raised its position in shares of SJW Group by 2,035.2% during the second quarter. Arkadios Wealth Advisors now owns 1,153 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 1,099 shares during the period. Eaton Vance Management acquired a new position in shares of SJW Group during the first quarter worth approximately $97,000. Sowell Financial Services LLC raised its position in shares of SJW Group by 31.2% during the first quarter. Sowell Financial Services LLC now owns 3,040 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 723 shares during the period. Finally, Financial Counselors Inc. acquired a new position in shares of SJW Group during the second quarter worth approximately $204,000. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
SJW has been the topic of a number of research reports. Barclays initiated coverage on SJW Group in a research report on Thursday, July 15th. They set an “equal weight” rating and a $70.00 target price on the stock. TheStreet raised SJW Group from a “c+” rating to a “b” rating in a research report on Thursday, July 29th.
SJW Group (NYSE:SJW) last announced its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). SJW Group had a return on equity of 6.44% and a net margin of 11.04%. The company had revenue of $152.24 million for the quarter, compared to the consensus estimate of $150.58 million. On average, analysts predict that SJW Group will post 1.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 9th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 6th. This represents a $1.36 annualized dividend and a yield of 2.07%. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio is 61.26%.
SJW Group Profile
SJW Group operates as a holding company, which through its subsidiaries provides water utility services. It operates through the Water Utility Services and Real Estate Services segments. The Water Utility Services segment offers water utility and utility-related services. The Real Estate Services segment engages in property management and investment activity.
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