SJW Group (SJW) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SJW Group (NYSE:SJW) from a sell rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. “

SJW has been the subject of a number of other reports. Janney Montgomery Scott upgraded shares of SJW Group from a neutral rating to a buy rating and set a $63.00 target price for the company in a report on Monday, September 10th. Evercore ISI began coverage on shares of SJW Group in a report on Monday, September 17th. They set an in-line rating and a $59.00 target price for the company. Finally, ValuEngine upgraded shares of SJW Group from a hold rating to a buy rating in a report on Wednesday, September 12th.

Shares of NYSE:SJW opened at $58.82 on Thursday. The company has a market cap of $1.21 billion, a P/E ratio of 26.03 and a beta of 0.03. SJW Group has a 1-year low of $51.26 and a 1-year high of $69.29. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.93.

SJW Group (NYSE:SJW) last issued its earnings results on Wednesday, July 25th. The utilities provider reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.10). The business had revenue of $99.09 million for the quarter, compared to the consensus estimate of $104.00 million. SJW Group had a return on equity of 10.42% and a net margin of 13.00%. sell-side analysts anticipate that SJW Group will post 2.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Monday, August 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, August 3rd. SJW Group’s dividend payout ratio is 49.56%.

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its stake in SJW Group by 44.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,571 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 797 shares during the period. Teacher Retirement System of Texas acquired a new position in SJW Group in the 2nd quarter worth approximately $207,000. Brookstone Capital Management acquired a new position in SJW Group in the 2nd quarter worth approximately $227,000. Xact Kapitalforvaltning AB acquired a new position in SJW Group in the 1st quarter worth approximately $214,000. Finally, Raymond James & Associates acquired a new position in SJW Group in the 2nd quarter worth approximately $309,000. 57.95% of the stock is owned by hedge funds and other institutional investors.

About SJW Group

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.

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