SJW Group (NYSE:SJW) Sees Large Decrease in Short Interest

SJW Group (NYSE:SJW) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 463,100 shares, a decrease 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 currently 2.1 days.

SJW Group Stock Down 1.0 %

Shares of SJW traded down $0.51 during midday trading on Tuesday, reaching $49.04. 77,578 shares of the stock were exchanged, compared to its average volume of 195,487. The company has a market capitalization of $1.60 billion, a P/E ratio of 17.77, a PEG ratio of 3.26 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a 52 week low of $48.78 and a 52 week high of $66.22. The company’s 50 day moving average is $54.17 and its two-hundred day moving average is $56.47.

SJW Group Dividend Announcement

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

Analyst Upgrades and Downgrades

SJW has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. StockNews.com lowered shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Bank of America assumed coverage on shares of SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 target price on the stock.

Hedge Funds Weigh In On SJW Group

A number of large investors have recently bought and sold shares of the business. Chris Bulman Inc bought a new position in SJW Group in the second quarter worth about $30,000. Point72 DIFC Ltd raised its stake in shares of SJW Group by 81.4% during the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 316 shares in the last quarter. nVerses Capital LLC bought a new position in shares of SJW Group during the 3rd quarter worth approximately $46,000. Point72 Asia Singapore Pte. Ltd. lifted its position in SJW Group by 576.5% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 761 shares during the last quarter. Finally, US Bancorp DE boosted its stake in SJW Group by 53.8% in the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 439 shares in the last quarter. Institutional investors own 84.29% 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.