Zacks: SJW Corporation (SJW) Given $59.00 Average Price Target by Analysts
SJW Corporation (NYSE:SJW) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. SJW Corporation’s rating score has improved by 66.7% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a twelve-month consensus price objective of $59.00 for the company and are anticipating that the company will post $0.79 EPS for the current quarter, according to Zacks. Zacks has also given SJW Corporation an industry rank of 162 out of 265 based on the ratings given to related companies.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of SJW Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. BidaskClub downgraded shares of SJW Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Janney Montgomery Scott upgraded shares of SJW Corporation from a “neutral” rating to a “buy” rating in a report on Friday, July 28th.
Hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP raised its stake in SJW Corporation by 136.9% in the second quarter. Cutler Group LP now owns 2,395 shares of the utilities provider’s stock valued at $117,000 after buying an additional 8,891 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in SJW Corporation by 352.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,647 shares of the utilities provider’s stock valued at $130,000 after buying an additional 2,062 shares during the last quarter. Victory Capital Management Inc. raised its stake in SJW Corporation by 5.6% in the first quarter. Victory Capital Management Inc. now owns 2,729 shares of the utilities provider’s stock valued at $132,000 after buying an additional 145 shares during the last quarter. Meeder Asset Management Inc. raised its stake in SJW Corporation by 1,521.7% in the second quarter. Meeder Asset Management Inc. now owns 2,984 shares of the utilities provider’s stock valued at $146,000 after buying an additional 2,800 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in SJW Corporation during the second quarter valued at $179,000. Hedge funds and other institutional investors own 48.36% of the company’s stock.
Shares of SJW Corporation (NYSE:SJW) traded down 0.67% during mid-day trading on Friday, reaching $54.57. 73,491 shares of the company traded hands. The stock’s 50-day moving average is $51.24 and its 200-day moving average is $49.61. The company has a market capitalization of $1.12 billion, a P/E ratio of 20.44 and a beta of 0.18. SJW Corporation has a 52 week low of $38.36 and a 52 week high of $56.93.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.2175 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.87 annualized dividend and a yield of 1.59%. SJW Corporation’s payout ratio is 32.58%.
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SJW Corporation Company Profile
SJW Group, formerly SJW Corp., is a holding company. The Company’s subsidiaries include San Jose Water Company, SJWTX, Inc, SJW Land Company and Texas Water Alliance Limited (TWA). SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). It operates through the segments, which include Water Utility Services, Real Estate Services and All Other.
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