Rhumbline Advisers Reduces Stock Position in SJW Group (NYSE:SJW)

Rhumbline Advisers decreased its stake in shares of SJW Group (NYSE:SJW) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 107,199 shares of the utilities provider’s stock after selling 5,115 shares during the period. Rhumbline Advisers’ holdings in SJW Group were worth $5,276,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SJW has been the subject of several research reports. Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on SJW Group from $61.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th.

SJW Group Stock Down 1.9 %

Shares of SJW Group stock opened at $52.30 on Friday. The company has a 50-day simple moving average of $49.76 and a two-hundred day simple moving average of $54.44. SJW Group has a 52-week low of $44.91 and a 52-week high of $62.18. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $1.71 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.94 and a beta of 0.65.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.21%. This is a boost from SJW Group’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, February 10th. SJW Group’s dividend payout ratio (DPR) is presently 60.87%.

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.