SJW Group (NYSE:SJW) Stock Price Down 4.2% – Here’s What Happened

SJW Group (NYSE:SJW) shares dropped 4.2% during trading on Wednesday . The stock traded as low as $46.07 and last traded at $46.20. Approximately 53,377 shares changed hands during trading, a decline of 75% from the average daily volume of 214,918 shares. The stock had previously closed at $48.22.

Analyst Upgrades and Downgrades

SJW has been the topic of several research reports. Wells Fargo & Company reduced their target price on SJW Group from $61.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com lowered shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.

SJW Group Stock Performance

The firm has a 50 day moving average price of $51.03 and a 200 day moving average price of $55.68. The stock has a market cap of $1.51 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.25.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SJW. Millennium Management LLC grew its holdings in SJW Group by 2,491.2% in the second quarter. Millennium Management LLC now owns 113,781 shares of the utilities provider’s stock worth $6,169,000 after purchasing an additional 109,390 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in SJW Group by 29.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock worth $12,337,000 after buying an additional 48,200 shares during the last quarter. Barclays PLC increased its position in SJW Group by 376.0% during the 3rd quarter. Barclays PLC now owns 60,140 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 47,506 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in SJW Group by 445.4% in the second quarter. Cubist Systematic Strategies LLC now owns 45,946 shares of the utilities provider’s stock valued at $2,491,000 after buying an additional 37,521 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in SJW Group by 120.1% in the third quarter. Edgestream Partners L.P. now owns 52,072 shares of the utilities provider’s stock worth $3,026,000 after acquiring an additional 28,417 shares in the last quarter. 84.29% of the stock is owned by institutional investors.

About SJW Group

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.