Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does SJW (SJW) have what it takes?
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does SJW (SJW) have what it takes?
SJW makes a strong case for investment, given its growth prospects, prudent debt management and capability to increase shareholder value.
The boring and predictable nature of water utilities makes them some of my favorite investments. SJW Group's operating revenue and adjusted diluted EPS climbed higher in Q2. The company's debt-to-capitalization ratio is healthy and steadily improving.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does SJW (SJW) have what it takes?
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does SJW (SJW) have what it takes?
SJW Group (NYSE:SJW ) Q2 2024 Earnings Conference Call July 25, 2024 2:00 PM ET Company Participants Andrew Walters - Chief Financial Officer, Treasurer and Interim Principal Accounting Officer Eric Thornburg - Chair, Board, President and CEO Conference Call Participants Richard Sunderland - JP Morgan Michael Gaugler - Janney Jonathan Reeder - Wells Fargo Securities Angie Storozynski - Seaport Roger Liddell - Clear Harbor Asset Management Operator Good day and thank you for standing by. Welcome to the 2024 Second Quarter SJW Group Financial Results Conference Call.
Swiss National Bank decreased its stake in SJW Group (NYSE:SJW – Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,500 shares of the utilities provider’s stock after selling 6,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of SJW Group worth $3,888,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds have also modified their holdings of SJW. Vanguard Group Inc. boosted its holdings in SJW Group by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,387,456 shares of the utilities provider’s stock worth $143,510,000 after buying an additional 61,015 shares during the last quarter. Nuance Investments LLC boosted its stake in shares of SJW Group by 32.6% in the third quarter. Nuance Investments LLC now owns 1,137,593 shares of the utilities provider’s stock worth $68,381,000 after acquiring an additional 279,870 shares during the last quarter. Northern Trust Corp increased its position in shares of SJW Group by 2.9% during the third quarter. Northern Trust Corp now owns 545,168 shares of the utilities provider’s stock worth $32,770,000 after purchasing an additional 15,332 shares in the last quarter. American Century Companies Inc. raised its stake in SJW Group by 4.5% in the 3rd quarter. American Century Companies Inc. now owns 429,461 shares of the utilities provider’s stock valued at $25,815,000 after purchasing an additional 18,653 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in SJW Group by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 318,255 shares of the utilities provider’s stock valued at $19,130,000 after purchasing an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock. SJW Group Stock Performance NYSE:SJW opened at $60.05 on Monday. The company’s 50-day moving average is $55.68 and its two-hundred day moving average is $60.26. SJW Group has a 1-year low of $51.37 and a 1-year high of $77.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.91 and a beta of 0.58. SJW Group (NYSE:SJW – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $140.60 million. SJW Group had a return on equity of 6.98% and a net margin of 12.48%. Analysts forecast that SJW Group will post 2.75 EPS for the current year. SJW Group Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 6th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 2.66%. SJW Group’s dividend payout ratio (DPR) is currently 60.15%. Analyst Upgrades and Downgrades A number of brokerages have recently commented on SJW. Wells Fargo & Company increased their target price on shares of SJW Group from $61.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Seaport Res Ptn raised shares of SJW Group from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded SJW Group from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.00. Check Out Our Latest Report on SJW Group Insider Buying and Selling at SJW Group In other SJW Group news, insider Craig J. Patla sold 1,400 shares of SJW Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.62, for a total transaction of $77,868.00. Following the completion of the sale, the insider now directly owns 3,300 shares in the company, valued at $183,546. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders. SJW Group Profile (Free Report) 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. Read More Five stocks we like better than SJW Group Are These Liquid Natural Gas Stocks Ready For An Upside Bounce? MarketBeat Week in Review – 5/13 – 5/17 What is a Dividend Harvesting Strategy and How Can Investors Profit from it? Take-Two Interactive Software Offers 2nd Chance for Investors Breakout Stocks: What They Are and How to Identify Them Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding SJW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SJW Group (NYSE:SJW – Free Report).