California Public Employees Retirement System lifted its stake in SJW Group (NYSE:SJW) by 30.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,331 shares of the utilities provider’s stock after buying an additional 17,469 shares during the quarter. California Public Employees Retirement System owned approximately 0.26% of SJW Group worth $5,282,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of SJW Group by 1.9% in the second quarter. Royal Bank of Canada now owns 20,840 shares of the utilities provider’s stock worth $1,265,000 after buying an additional 393 shares during the last quarter. California State Teachers Retirement System boosted its position in SJW Group by 1.2% during the third quarter. California State Teachers Retirement System now owns 41,023 shares of the utilities provider’s stock worth $2,801,000 after purchasing an additional 490 shares in the last quarter. Stifel Financial Corp boosted its position in SJW Group by 1.6% during the third quarter. Stifel Financial Corp now owns 35,752 shares of the utilities provider’s stock worth $2,441,000 after purchasing an additional 553 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in SJW Group by 13.0% during the third quarter. Clear Harbor Asset Management LLC now owns 6,300 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 725 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in SJW Group by 2.3% during the third quarter. Rhumbline Advisers now owns 38,405 shares of the utilities provider’s stock worth $2,623,000 after purchasing an additional 861 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.
A number of brokerages have issued reports on SJW. ValuEngine downgraded SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. began coverage on SJW Group in a research report on Friday, November 15th. They set a “neutral” rating and a $73.00 price target on the stock. Finally, Zacks Investment Research downgraded SJW Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $74.83.
Shares of SJW stock opened at $73.55 on Friday. The company has a market capitalization of $2.07 billion, a P/E ratio of 52.91, a P/E/G ratio of 7.84 and a beta of 0.01. The business’s 50 day moving average is $72.01 and its two-hundred day moving average is $69.67. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.57. SJW Group has a 12-month low of $59.10 and a 12-month high of $74.99.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.74%. This is an increase from SJW Group’s previous quarterly dividend of $0.30. SJW Group’s dividend payout ratio is currently 51.00%.
SJW Group Company Profile
SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.
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