SJW said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Shareholders of record as of February 3, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.36 per share.
At the most recent share price of $77.09 / share, the stock’s dividend yield was 1.97%. Additionally, the company’s dividend payout ratio is 0.75, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company’s 3-Year dividend growth rate is 0.20%.
Analyst Price Forecast Suggests 9.82% Upside
As of January 30, 2023, the average one-year price target for SJW is $84.66. The forecasts range from a low of $76.76 to a high of $97.65. The average price target represents an increase of 9.82% from its latest reported closing price of $77.09.
The projected annual revenue for SJW is $637MM, an increase of 8.06%. The projected annual EPS is $2.56, an increase of 32.20%.
Fund Sentiment
There are 425 funds or institutions reporting positions in SJW. This is an increase of 6 owner(s) or 1.43%.
Average portfolio weight of all funds dedicated to US:SJW is 0.1973%, an increase of 7.0322%. Total shares owned by institutions increased in the last three months by 2.01% to 26,676K shares.
What are large shareholders doing?
Nuance Investments holds 3,078,257 shares representing 10.15% ownership of the company. In it’s prior filing, the firm reported owning 3,183,959 shares, representing a decrease of 3.43%. The firm decreased its portfolio allocation in SJW by 0.01% over the last quarter.
T. Rowe Price Investment Management holds 1,643,445 shares representing 5.42% ownership of the company.
NMVLX – Nuance Mid Cap Value Fund Institutional Class holds 1,615,120 shares representing 5.33% ownership of the company. In it’s prior filing, the firm reported owning 1,663,431 shares, representing a decrease of 2.99%. The firm increased its portfolio allocation in SJW by 8.86% over the last quarter.
Covington Capital Management holds 1,590,799 shares representing 5.25% ownership of the company. No change in the last quarter.
Amundi holds 1,211,960 shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 1,016,175 shares, representing an increase of 16.15%. The firm decreased its portfolio allocation in SJW by 18.17% over the last quarter.
SJW Group Background Information
(This description is provided by the company.)
SJW Group is the second-largest investor-owned pure-play water and wastewater utility, based on estimated rate base, in the United States, providing lifesaving and high-quality water service to nearly 1.5 million people. SJW Group’s locally led and operated water utilities – San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas – possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its shareholders.
This article originally appeared on Fintel
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