Zimmer Partners LP Buys Shares of 25,000 SJW Group (NYSE:SJW)

Zimmer Partners LP bought a new position in SJW Group (NYSE:SJW) in the 3rd quarter, HoldingsChannel reports. The fund bought 25,000 shares of the utilities provider’s stock, valued at approximately $1,453,000.

A number of other institutional investors and hedge funds have also modified their holdings of SJW. CWM LLC boosted its position in SJW Group by 184.2% during the 2nd quarter. CWM LLC now owns 520 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 337 shares during the period. Chris Bulman Inc acquired a new stake in shares of SJW Group during the second quarter worth approximately $30,000. Point72 DIFC Ltd grew its position in SJW Group by 81.4% during the third quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 316 shares in the last quarter. nVerses Capital LLC acquired a new position in SJW Group in the 3rd quarter valued at approximately $46,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in SJW Group by 576.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after buying an additional 761 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

SJW Group Stock Performance

Shares of SJW opened at $52.99 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a 12 month low of $51.17 and a 12 month high of $70.43. The company’s fifty day moving average is $56.29 and its 200-day moving average is $56.74. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62.

SJW Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 3.02%. SJW Group’s dividend payout ratio (DPR) is currently 57.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Bank of America assumed coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, StockNews.com downgraded SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th.

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.