Short Interest in SJW Group (NYSE:SJW) Drops By 14.8%

SJW Group (NYSE:SJW) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 463,100 shares, a drop of 14.8% from the November 30th total of 543,300 shares. Based on an average daily trading volume, of 223,500 shares, the days-to-cover ratio is presently 2.1 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on SJW. Wells Fargo & Company cut their price objective 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. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Bank of America initiated coverage on shares of SJW Group in a report on Friday, September 20th. They set a “neutral” rating and a $65.00 price objective on the stock.

SJW Group Stock Performance

SJW traded down $0.51 during trading on Tuesday, reaching $49.04. 77,578 shares of the company’s stock were exchanged, compared to its average volume of 195,487. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. SJW Group has a 1 year low of $48.78 and a 1 year high of $66.22. The company’s fifty day simple moving average is $54.17 and its 200-day simple moving average is $56.47. The stock has a market capitalization of $1.60 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.26 and a beta of 0.62.

SJW Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. SJW Group’s dividend payout ratio is presently 57.97%.

Institutional Investors Weigh In On SJW Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SJW. Nuance Investments LLC grew its stake in shares of SJW Group by 17.5% during the 2nd quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider’s stock worth $84,877,000 after purchasing an additional 233,601 shares during the period. Geode Capital Management LLC grew its position in SJW Group by 1.9% during the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider’s stock valued at $42,006,000 after buying an additional 13,614 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in SJW Group by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider’s stock valued at $21,499,000 after buying an additional 20,646 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SJW Group by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 339,990 shares of the utilities provider’s stock worth $18,434,000 after acquiring an additional 4,357 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of SJW Group by 29.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock worth $12,337,000 after acquiring an additional 48,200 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.