SJW Group (NYSE:SJW) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of SJW Group (NYSE:SJW) from a hold rating to a sell rating in a report released on Tuesday.

Several other brokerages have also recently issued reports on SJW. Wells Fargo & Company decreased their target price on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America initiated coverage on shares of SJW Group in a report on Friday, September 20th. They issued a “neutral” rating and a $65.00 price objective for the company.

SJW Group Price Performance

Shares of NYSE:SJW opened at $55.69 on Tuesday. The business has a fifty day moving average price of $58.36 and a 200-day moving average price of $56.91. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.49. The company has a market capitalization of $1.85 billion, a PE ratio of 20.18, a PEG ratio of 3.36 and a beta of 0.62. SJW Group has a 1-year low of $51.17 and a 1-year high of $70.43.

SJW Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SJW. Van ECK Associates Corp boosted its holdings in SJW Group by 9.1% in the third quarter. Van ECK Associates Corp now owns 9,043 shares of the utilities provider’s stock worth $530,000 after purchasing an additional 755 shares during the last quarter. US Bancorp DE boosted its stake in shares of SJW Group by 53.8% in the 3rd quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock worth $73,000 after buying an additional 439 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of SJW Group in the third quarter worth $215,000. Ballentine Partners LLC purchased a new stake in SJW Group during the third quarter valued at $319,000. Finally, E. Ohman J or Asset Management AB lifted its holdings in SJW Group by 7.6% in the third quarter. E. Ohman J or Asset Management AB now owns 32,533 shares of the utilities provider’s stock valued at $1,890,000 after acquiring an additional 2,300 shares during the period. 84.29% of the stock is owned by hedge funds and other 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.