PNC Financial Services Group Inc. Boosts Holdings in SJW Group (NYSE:SJW)

PNC Financial Services Group Inc. raised its position in SJW Group (NYSE:SJW) by 47.9% in the 4th quarter, Holdings Channel reports. The firm owned 2,079 shares of the utilities provider’s stock after buying an additional 673 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SJW Group were worth $102,000 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. Arizona State Retirement System boosted its stake in SJW Group by 2.2% during the fourth quarter. Arizona State Retirement System now owns 9,015 shares of the utilities provider’s stock valued at $444,000 after buying an additional 197 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of SJW Group by 1.2% in the 4th 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. Point72 DIFC Ltd boosted its position in shares of SJW Group by 81.4% during the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 316 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of SJW Group by 1.9% during the fourth quarter. Vontobel Holding Ltd. now owns 18,930 shares of the utilities provider’s stock worth $932,000 after purchasing an additional 349 shares in the last quarter. Finally, Canvas Wealth Advisors LLC increased its position in shares of SJW Group by 8.4% in the fourth quarter. Canvas Wealth Advisors LLC now owns 7,038 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 546 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SJW has been the subject of several research analyst reports. Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $59.00 to $55.00 in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of SJW Group from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, StockNews.com raised SJW Group from a “sell” rating to a “hold” rating in a research note on Friday, February 28th.

SJW Group Stock Performance

NYSE:SJW opened at $51.18 on Wednesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.94 and a beta of 0.58. The business has a 50 day moving average of $51.68 and a 200 day moving average of $53.71. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. SJW Group has a 1-year low of $44.91 and a 1-year 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 paid a $0.42 dividend. This is a boost from SJW Group’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, February 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.28%. SJW Group’s dividend payout ratio is 58.95%.

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.