Zacks Investment Research Downgrades SJW Group (SJW) to Hold

Zacks Investment Research cut shares of SJW Group (NYSE:SJW) from a strong-buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

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 topic of a number of other reports. ValuEngine lowered shares of SJW Group from a buy rating to a hold rating in a research report on Friday, April 26th. Wells Fargo & Co started coverage on shares of SJW Group in a research report on Monday, January 28th. They set an outperform rating and a $70.00 target price on the stock. Finally, UBS Group started coverage on shares of SJW Group in a research report on Wednesday, May 15th. They set a neutral rating and a $64.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. SJW Group currently has a consensus rating of Buy and an average target price of $65.60.

Shares of SJW stock opened at $62.80 on Friday. SJW Group has a 1 year low of $51.82 and a 1 year high of $68.42. The company has a market cap of $1.78 billion, a PE ratio of 25.02, a P/E/G ratio of 4.44 and a beta of 0.06. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.58.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, April 24th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.13. SJW Group had a net margin of 10.83% and a return on equity of 8.37%. The company had revenue of $77.68 million for the quarter, compared to analyst estimates of $77.00 million. Research analysts predict that SJW Group will post 2.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.91%. SJW Group’s payout ratio is 47.81%.

Several hedge funds have recently made changes to their positions in SJW. Quantamental Technologies LLC acquired a new position in SJW Group in the first quarter valued at approximately $46,000. Advisor Group Inc. lifted its holdings in SJW Group by 41.7% in the fourth quarter. Advisor Group Inc. now owns 952 shares of the utilities provider’s stock valued at $52,000 after buying an additional 280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SJW Group by 55.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the utilities provider’s stock valued at $69,000 after buying an additional 443 shares during the period. Cutler Group LP lifted its holdings in SJW Group by 1,435.6% in the fourth quarter. Cutler Group LP now owns 1,597 shares of the utilities provider’s stock valued at $88,000 after buying an additional 1,493 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in SJW Group in the fourth quarter valued at approximately $91,000. Institutional investors own 66.11% of the company’s stock.

SJW Group Company Profile

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.

Recommended Story: How is inflation measured?

Get a free copy of the Zacks research report on SJW Group (SJW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SJW Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SJW Group and related companies with MarketBeat.com's FREE daily email newsletter.