SJW Group (NYSE:SJW) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in SJW Group (NYSE:SJW - Free Report) by 120.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,400 shares of the utilities provider's stock after acquiring an additional 20,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of SJW Group worth $1,841,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SJW. Russell Investments Group Ltd. boosted its position in shares of SJW Group by 64.4% during the fourth quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider's stock worth $38,000 after buying an additional 300 shares during the period. Sterling Capital Management LLC grew its position in SJW Group by 842.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,055 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 943 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in SJW Group by 47.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,079 shares of the utilities provider's stock worth $102,000 after purchasing an additional 673 shares during the period. Parkworth Wealth Management Inc. acquired a new stake in shares of SJW Group during the fourth quarter worth about $178,000. Finally, ELCO Management Co. LLC acquired a new stake in shares of SJW Group during the fourth quarter worth about $212,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SJW. StockNews.com raised shares of SJW Group from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Bank of America upgraded SJW Group from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $59.00 to $55.00 in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on SJW Group from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday.

SJW Group Stock Up 4.3 %

Shares of SJW Group stock traded up $2.31 during trading on Tuesday, hitting $55.82. 61,457 shares of the stock were exchanged, compared to its average volume of 228,408. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The firm's 50-day moving average price is $53.38 and its 200 day moving average price is $52.85. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 3.94 and a beta of 0.56. SJW Group has a 12-month low of $44.91 and a 12-month high of $62.18.

SJW Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from SJW Group's previous quarterly dividend of $0.40. SJW Group's dividend payout ratio is presently 58.95%.

About SJW Group

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.