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SJW Group (NYSE:SJW) Upgraded to "Hold" by Zacks Investment Research

Thursday, October 14, 2021 | MarketBeat

SJW Group (NYSE:SJW) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a report released on Thursday, Zacks.com reports.

According to Zacks, "SJW CORP. is a holding company which operates through its wholly-owned subsidiaries, San Jose Water Co., SJW Land Co., and Western Precision, Inc. San Jose Water Co., is a public utility in the business of providing water service to a population of approximately 928,000 people. Their service area encompasses about 134 sq. miles in the metropolitan San Juan area. SJW Land Co. operates parking facilities located adjacent to the their headquarters and the San Jose area. "

Other equities analysts have also issued reports about the company. TheStreet raised SJW Group from a "c+" rating to a "b" rating in a report on Thursday, July 29th. Barclays started coverage on SJW Group in a report on Thursday, July 15th. They issued an "equal weight" rating and a $70.00 price target for the company.

NYSE:SJW opened at $67.45 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day simple moving average of $68.01 and a two-hundred day simple moving average of $66.15. SJW Group has a 1 year low of $58.01 and a 1 year high of $71.69. The company has a market capitalization of $2.01 billion, a P/E ratio of 31.37 and a beta of 0.40.

SJW Group (NYSE:SJW) last released its earnings results on Thursday, July 29th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.63 by ($0.03). SJW Group had a return on equity of 6.44% and a net margin of 11.04%. The firm had revenue of $152.24 million during the quarter, compared to analysts' expectations of $150.58 million. As a group, analysts anticipate that SJW Group will post 1.85 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Nuance Investments LLC boosted its stake in SJW Group by 2.5% during the second quarter. Nuance Investments LLC now owns 3,318,618 shares of the utilities provider's stock valued at $210,068,000 after buying an additional 80,391 shares during the period. BlackRock Inc. boosted its stake in SJW Group by 3.9% during the second quarter. BlackRock Inc. now owns 2,397,001 shares of the utilities provider's stock valued at $151,730,000 after buying an additional 90,970 shares during the period. Vanguard Group Inc. boosted its stake in SJW Group by 0.5% during the second quarter. Vanguard Group Inc. now owns 1,845,112 shares of the utilities provider's stock valued at $116,795,000 after buying an additional 9,120 shares during the period. Amundi bought a new stake in SJW Group during the second quarter valued at $40,684,000. Finally, Maple Brown Abbott Ltd boosted its stake in SJW Group by 7.0% during the second quarter. Maple Brown Abbott Ltd now owns 587,889 shares of the utilities provider's stock valued at $37,213,000 after buying an additional 38,509 shares during the period. 70.99% of the stock is owned by institutional investors.

About SJW Group

SJW Group operates as a holding company, which through its subsidiaries provides water utility services. It operates through the Water Utility Services and Real Estate Services segments. The Water Utility Services segment offers water utility and utility-related services. The Real Estate Services segment engages in property management and investment activity.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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