Franklin Resources Inc. Boosts Stake in SJW Group (NYSE:SJW)

Franklin Resources Inc. boosted its holdings in shares of SJW Group (NYSE:SJW) by 162.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,810 shares of the utilities provider’s stock after acquiring an additional 26,505 shares during the period. Franklin Resources Inc. owned 0.13% of SJW Group worth $2,504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Chris Bulman Inc purchased a new stake in shares of SJW Group in the second quarter valued at approximately $30,000. Point72 DIFC Ltd grew its holdings in SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after buying an additional 316 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of SJW Group during the 3rd quarter worth $46,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 761 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of SJW Group by 53.8% in the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Trading Up 1.0 %

Shares of SJW stock opened at $49.54 on Thursday. SJW Group has a 1-year low of $48.83 and a 1-year high of $67.09. The firm has a market cap of $1.62 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 3.26 and a beta of 0.62. The company has a 50-day moving average of $54.76 and a two-hundred day moving average of $56.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77.

SJW Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 3.23%. SJW Group’s dividend payout ratio (DPR) is presently 57.97%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SJW. StockNews.com downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Wells Fargo & Company decreased their price objective on SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, Bank of America started coverage on SJW Group in a research note on Friday, September 20th. They set a “neutral” rating and a $65.00 target price for the company.

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.