ELCO Management Co. LLC Cuts Stake in SJW Group (NYSE:SJW)

ELCO Management Co. LLC reduced its holdings in shares of SJW Group (NYSE:SJW) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,315 shares of the utilities provider’s stock after selling 733 shares during the period. ELCO Management Co. LLC’s holdings in SJW Group were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Two Sigma Advisers LP purchased a new stake in shares of SJW Group in the 4th quarter valued at approximately $662,000. Clear Harbor Asset Management LLC increased its position in shares of SJW Group by 7.2% in the 1st quarter. Clear Harbor Asset Management LLC now owns 4,320 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 290 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of SJW Group by 15.1% in the 1st quarter. Granite Investment Partners LLC now owns 271,072 shares of the utilities provider’s stock valued at $16,736,000 after purchasing an additional 35,623 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of SJW Group in the 1st quarter valued at approximately $207,000. Finally, Confluence Investment Management LLC grew its position in shares of SJW Group by 4.2% in the 1st quarter. Confluence Investment Management LLC now owns 104,198 shares of the utilities provider’s stock valued at $6,433,000 after buying an additional 4,155 shares during the last quarter. 67.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on SJW. Wells Fargo & Co set a $72.00 target price on shares of SJW Group and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. ValuEngine raised shares of SJW Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group began coverage on shares of SJW Group in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $64.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.60.

NYSE:SJW traded up $0.22 during trading hours on Thursday, reaching $64.64. 307 shares of the company’s stock were exchanged, compared to its average volume of 122,631. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 7.58 and a beta of 0.05. The firm’s 50-day moving average is $63.58. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.57. SJW Group has a 1-year low of $51.82 and a 1-year high of $67.09.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 5th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, August 2nd. SJW Group’s dividend payout ratio is currently 47.81%.

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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Institutional Ownership by Quarter for SJW Group (NYSE:SJW)

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