SJW Group (NYSE:SJW) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its stake in SJW Group (NYSE:SJW) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,451 shares of the utilities provider’s stock after selling 587 shares during the period. Clear Harbor Asset Management LLC’s holdings in SJW Group were worth $1,925,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new stake in SJW Group in the 2nd quarter valued at $28,000. US Bancorp DE raised its position in SJW Group by 263.8% in the 2nd quarter. US Bancorp DE now owns 462 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in SJW Group in the 4th quarter valued at $57,000. NewEdge Advisors LLC raised its position in SJW Group by 1,822.7% in the 1st quarter. NewEdge Advisors LLC now owns 846 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 802 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in SJW Group by 160.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 678 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Stock Performance

SJW Group stock traded down $0.05 during trading hours on Thursday, reaching $56.59. 225,166 shares of the stock were exchanged, compared to its average volume of 178,626. The stock has a market cap of $1.81 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.68 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.58 and a current ratio of 0.58. SJW Group has a 52-week low of $54.39 and a 52-week high of $81.86. The firm’s 50 day moving average is $58.29 and its 200 day moving average is $61.65.

SJW Group (NYSE:SJW) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $161.23 million. SJW Group had a return on equity of 7.10% and a net margin of 12.68%. During the same quarter in the previous year, the company posted $1.09 EPS. Analysts predict that SJW Group will post 2.76 EPS for the current fiscal year.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, February 2nd. This is an increase from SJW Group’s previous quarterly dividend of $0.19. SJW Group’s dividend payout ratio (DPR) is currently 59.93%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of SJW Group from $61.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Seaport Res Ptn upgraded shares of SJW Group from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. Finally, StockNews.com downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.00.

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.