SJW Group (NYSE:SJW) Sets New 52-Week Low – Here’s Why

Shares of SJW Group (NYSE:SJW) hit a new 52-week low during trading on Wednesday . The company traded as low as $51.10 and last traded at $51.30, with a volume of 128602 shares. The stock had previously closed at $53.47.

Analyst Ratings Changes

A number of research analysts have issued reports on SJW shares. Wells Fargo & Company reduced their price objective on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Bank of America started coverage on 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 Stock Performance

The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The business’s fifty day moving average price is $55.50 and its 200-day moving average price is $56.60. The stock has a market cap of $1.64 billion, a PE ratio of 18.19, a P/E/G ratio of 3.26 and a beta of 0.62.

SJW Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were given 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 3.19%. SJW Group’s payout ratio is 57.97%.

Hedge Funds Weigh In On SJW Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its position in shares of SJW Group by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,526 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 189 shares during the period. Point72 DIFC Ltd lifted 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 worth $41,000 after purchasing an additional 316 shares in the last quarter. CWM LLC grew its holdings in SJW Group by 184.2% during the 2nd quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after buying an additional 337 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of SJW Group by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the utilities provider’s stock worth $802,000 after buying an additional 400 shares in the last quarter. Finally, US Bancorp DE grew its stake in SJW Group by 53.8% during the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 439 shares in the last quarter. 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.