State of New Jersey Common Pension Fund D Increases Stock Holdings in SJW Group (NYSE:SJW)

State of New Jersey Common Pension Fund D raised its holdings in SJW Group (NYSE:SJW) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,063 shares of the utilities provider’s stock after buying an additional 3,952 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.12% of SJW Group worth $1,873,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SJW. Vontobel Holding Ltd. raised its holdings in shares of SJW Group by 1.9% in the fourth quarter. Vontobel Holding Ltd. now owns 18,930 shares of the utilities provider’s stock worth $932,000 after buying an additional 349 shares during the last quarter. Van ECK Associates Corp increased its position in shares of SJW Group by 9.2% in the 4th quarter. Van ECK Associates Corp now owns 9,878 shares of the utilities provider’s stock valued at $486,000 after acquiring an additional 835 shares during the period. First National Corp MA ADV purchased a new position in SJW Group in the 4th quarter worth $931,000. Canvas Wealth Advisors LLC lifted its position in SJW Group by 8.4% during the 4th quarter. Canvas Wealth Advisors LLC now owns 7,038 shares of the utilities provider’s stock worth $346,000 after acquiring an additional 546 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in SJW Group by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock worth $846,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Stock Performance

NYSE SJW opened at $52.51 on Tuesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 19.03, a PEG ratio of 3.94 and a beta of 0.65. The stock has a 50-day simple moving average of $49.68 and a two-hundred day simple moving average of $54.49. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a fifty-two week low of $44.91 and a fifty-two week high of $62.18.

SJW Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.42 per share. This is a boost from SJW Group’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Monday, February 10th. SJW Group’s dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SJW. Bank of America upgraded SJW Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $59.00 to $55.00 in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of SJW Group from $61.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th.

SJW Group Company Profile

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.