Allspring Global Investments Holdings LLC Purchases 18,723 Shares of SJW Group (NYSE:SJW)

Allspring Global Investments Holdings LLC raised its stake in shares of SJW Group (NYSE:SJW) by 93.5% in the first quarter, Holdings Channel reports. The institutional investor owned 38,747 shares of the utilities provider’s stock after buying an additional 18,723 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SJW Group were worth $2,193,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of SJW Group in the fourth quarter worth about $13,659,000. Vanguard Group Inc. lifted its position in shares of SJW Group by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock worth $161,136,000 after buying an additional 78,289 shares in the last quarter. KBC Group NV lifted its position in shares of SJW Group by 16.2% in the fourth quarter. KBC Group NV now owns 474,598 shares of the utilities provider’s stock worth $31,015,000 after buying an additional 66,238 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of SJW Group in the first quarter worth about $3,202,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of SJW Group by 1,196.1% in the third quarter. Qube Research & Technologies Ltd now owns 48,097 shares of the utilities provider’s stock worth $2,891,000 after buying an additional 44,386 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

SJW Group Price Performance

Shares of NYSE:SJW traded up $0.28 during mid-day trading on Tuesday, reaching $55.08. The stock had a trading volume of 8,845 shares, compared to its average volume of 184,147. SJW Group has a 1 year low of $51.17 and a 1 year high of $73.14. 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 business’s 50 day moving average price is $54.91 and its 200 day moving average price is $57.79. The company has a market cap of $1.78 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.62.

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

SJW Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 6th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, May 3rd. SJW Group’s dividend payout ratio (DPR) is presently 60.15%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Craig J. Patla sold 1,400 shares of the firm’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 transaction of $77,868.00. Following the transaction, the insider now directly owns 3,300 shares of the company’s stock, valued at $183,546. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

About SJW Group

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.