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

State of New Jersey Common Pension Fund D lifted its position in shares of SJW Group (NYSE:SJW) by 11.6% during the 4th quarter, HoldingsChannel reports. The fund owned 38,063 shares of the utilities provider’s stock after purchasing an additional 3,952 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SJW Group were worth $1,873,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SJW. Creative Planning raised its holdings in SJW Group by 8.7% in the 3rd quarter. Creative Planning now owns 12,901 shares of the utilities provider’s stock worth $750,000 after purchasing an additional 1,028 shares during the period. International Assets Investment Management LLC raised its stake in shares of SJW Group by 4,232.5% during the 3rd quarter. International Assets Investment Management LLC now owns 12,261 shares of the utilities provider’s stock worth $712,000 after buying an additional 11,978 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of SJW Group by 29.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider’s stock worth $12,337,000 after buying an additional 48,200 shares during the period. Ballentine Partners LLC acquired a new stake in SJW Group in the 3rd quarter valued at $319,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in SJW Group in the 3rd quarter worth $215,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

SJW Group Trading Down 0.5 %

Shares of SJW opened at $52.51 on Tuesday. SJW Group has a 52-week low of $44.91 and a 52-week high of $62.18. The stock has a market cap of $1.72 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 3.94 and a beta of 0.65. The firm’s fifty day moving average is $49.68 and its two-hundred day moving average is $54.49. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.25.

SJW Group Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from SJW Group’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 3.20%. SJW Group’s payout ratio is presently 60.87%.

Analyst Upgrades and Downgrades

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

SJW Group 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.