SJW Group (NYSE:SJW) Shares Gap Down – What’s Next?

SJW Group (NYSE:SJW) gapped down prior to trading on Tuesday . The stock had previously closed at $54.69, but opened at $53.40. SJW Group shares last traded at $54.24, with a volume of 15,955 shares changing hands.

Analyst Upgrades and Downgrades

SJW has been the subject of several analyst reports. Bank of America raised SJW Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $59.00 to $55.00 in a report on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of SJW Group from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, StockNews.com raised shares of SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

SJW Group Stock Performance

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $1.81 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.94 and a beta of 0.58. The company’s fifty day simple moving average is $52.40 and its 200 day simple moving average is $53.51.

SJW Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.12%. This is a positive change from SJW Group’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, February 10th. SJW Group’s dividend payout ratio is presently 58.95%.

Hedge Funds Weigh In On SJW Group

A number of hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its position in SJW Group by 2.2% during the 4th quarter. Arizona State Retirement System now owns 9,015 shares of the utilities provider’s stock valued at $444,000 after acquiring an additional 197 shares during the period. State of Alaska Department of Revenue raised its stake in SJW Group by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock valued at $846,000 after buying an additional 210 shares during the last quarter. Stifel Financial Corp lifted its holdings in SJW Group by 2.2% in the fourth quarter. Stifel Financial Corp now owns 10,270 shares of the utilities provider’s stock valued at $505,000 after acquiring an additional 223 shares during the period. HighTower Advisors LLC grew its position in SJW Group by 5.6% during the fourth quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider’s stock valued at $218,000 after buying an additional 233 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in SJW Group by 64.4% in the 4th quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 84.29% of the company’s stock.

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.