Manchester Capital Management LLC Sells 2,500 Shares of SJW Group (NYSE:SJW)

Manchester Capital Management LLC decreased its holdings in SJW Group (NYSE:SJW) by 22.4% in the first quarter, Holdings Channel reports. The fund owned 8,652 shares of the utilities provider’s stock after selling 2,500 shares during the quarter. Manchester Capital Management LLC’s holdings in SJW Group were worth $490,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in SJW Group by 2.6% during the third quarter. Vanguard Group Inc. now owns 2,387,456 shares of the utilities provider’s stock valued at $143,510,000 after acquiring an additional 61,015 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SJW Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,031 shares of the utilities provider’s stock valued at $20,326,000 after purchasing an additional 14,853 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in SJW Group in the 1st quarter worth about $3,202,000. Allspring Global Investments Holdings LLC raised its position in SJW Group by 93.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,747 shares of the utilities provider’s stock worth $2,193,000 after purchasing an additional 18,723 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in SJW Group by 26.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 107,343 shares of the utilities provider’s stock worth $7,015,000 after purchasing an additional 22,223 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised SJW Group from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.00.

SJW Group Trading Up 2.0 %

Shares of SJW traded up $1.14 during trading hours on Friday, reaching $58.45. 21,902 shares of the company traded hands, compared to its average volume of 182,402. The stock’s fifty day moving average price is $54.89 and its 200 day moving average price is $57.23. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.67 and a beta of 0.61. SJW Group has a 12-month low of $51.17 and a 12-month high of $73.14.

SJW Group (NYSE:SJW) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $149.38 million during the quarter, compared to analysts’ expectations of $140.60 million. SJW Group had a net margin of 12.48% and a return on equity of 6.98%. Sell-side analysts forecast that SJW Group will post 2.75 earnings per share for the current year.

SJW Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.74%. SJW Group’s dividend payout ratio is currently 60.15%.

Insider Buying and Selling

In other news, insider Craig J. Patla sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $55.62, for a total value of $77,868.00. Following the completion of the sale, the insider now owns 3,300 shares of the company’s stock, valued at approximately $183,546. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

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.