Public Sector Pension Investment Board Has $3.50 Million Stock Position in SJW Group (NYSE:SJW)

Public Sector Pension Investment Board raised its holdings in shares of SJW Group (NYSE:SJW) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,492 shares of the utilities provider’s stock after buying an additional 4,925 shares during the quarter. Public Sector Pension Investment Board owned about 0.20% of SJW Group worth $3,497,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in SJW Group by 133.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider’s stock valued at $1,206,000 after purchasing an additional 12,182 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of SJW Group by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 164,099 shares of the utilities provider’s stock valued at $8,897,000 after buying an additional 34,607 shares during the period. ProShare Advisors LLC grew its position in SJW Group by 16.2% during the first quarter. ProShare Advisors LLC now owns 142,844 shares of the utilities provider’s stock worth $8,084,000 after buying an additional 19,925 shares in the last quarter. Vanguard Group Inc. increased its stake in SJW Group by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock valued at $161,136,000 after acquiring an additional 78,289 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in SJW Group in the 1st quarter valued at approximately $3,202,000. 84.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SJW. Bank of America started coverage on SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of SJW Group from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.67.

SJW Group Price Performance

SJW Group stock opened at $57.49 on Friday. The business has a 50 day simple moving average of $59.10 and a 200 day simple moving average of $56.56. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $1.88 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.63. SJW Group has a one year low of $51.17 and a one year high of $70.43.

SJW Group (NYSE:SJW) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.57 by $0.09. The company had revenue of $176.17 million for the quarter, compared to the consensus estimate of $165.10 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. On average, sell-side analysts forecast that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, August 5th. SJW Group’s payout ratio is 60.15%.

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.