SJW Group (SJW) Lifted to “Hold” at Zacks Investment Research

SJW Group (NYSE:SJW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. “

Other research analysts also recently issued reports about the company. ValuEngine upgraded SJW Group from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Janney Montgomery Scott downgraded SJW Group from a “buy” rating to a “neutral” rating in a research report on Thursday, April 26th.

Shares of SJW Group stock traded down $0.81 during trading on Wednesday, hitting $66.82. 564 shares of the company were exchanged, compared to its average volume of 199,380. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.64 and a quick ratio of 0.64. SJW Group has a fifty-two week low of $47.56 and a fifty-two week high of $69.29. The company has a market capitalization of $1.39 billion, a P/E ratio of 29.68 and a beta of 0.23.

SJW Group (NYSE:SJW) last issued its quarterly earnings data on Wednesday, April 25th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. SJW Group had a return on equity of 10.42% and a net margin of 14.38%. The firm had revenue of $75.04 million during the quarter, compared to the consensus estimate of $71.00 million. research analysts expect that SJW Group will post 2.38 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its holdings in SJW Group by 23.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 101,745 shares of the utilities provider’s stock valued at $6,495,000 after acquiring an additional 19,628 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in SJW Group in the 4th quarter valued at $334,000. First Trust Advisors LP raised its holdings in SJW Group by 27.7% in the 4th quarter. First Trust Advisors LP now owns 137,421 shares of the utilities provider’s stock valued at $8,772,000 after acquiring an additional 29,819 shares during the last quarter. Wells Fargo & Company MN raised its holdings in SJW Group by 55.0% in the 4th quarter. Wells Fargo & Company MN now owns 80,833 shares of the utilities provider’s stock valued at $5,159,000 after acquiring an additional 28,682 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in SJW Group in the 4th quarter valued at $2,889,000. Hedge funds and other institutional investors own 55.90% of the company’s stock.

About SJW Group

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.

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