Pictet Asset Management Holding SA Acquires 1,320 Shares of SJW Group (NYSE:SJW)

Pictet Asset Management Holding SA boosted its holdings in SJW Group (NYSE:SJW) by 24.7% in the fourth quarter, Holdings Channel reports. The firm owned 6,669 shares of the utilities provider’s stock after purchasing an additional 1,320 shares during the quarter. Pictet Asset Management Holding SA’s holdings in SJW Group were worth $328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of SJW Group by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 2,617,642 shares of the utilities provider’s stock worth $128,840,000 after buying an additional 72,081 shares during the last quarter. Nuance Investments LLC raised its holdings in SJW Group by 4.3% during the fourth quarter. Nuance Investments LLC now owns 1,256,548 shares of the utilities provider’s stock worth $61,872,000 after acquiring an additional 52,029 shares in the last quarter. Geode Capital Management LLC boosted its position in SJW Group by 1.9% during the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider’s stock valued at $42,006,000 after purchasing an additional 13,614 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in SJW Group by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 390,911 shares of the utilities provider’s stock valued at $19,241,000 after purchasing an additional 20,944 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of SJW Group by 6.2% during the 4th quarter. Bank of New York Mellon Corp now owns 327,589 shares of the utilities provider’s stock worth $16,124,000 after purchasing an additional 19,136 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SJW shares. Wells Fargo & Company increased their price objective on SJW Group from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $59.00 to $55.00 in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of SJW Group from a “sell” rating to a “hold” rating in a report on Friday, February 28th.

SJW Group Stock Performance

Shares of SJW stock opened at $51.63 on Friday. SJW Group has a 52 week low of $44.91 and a 52 week high of $62.18. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.94 and a beta of 0.56. The company has a 50-day simple moving average of $52.82 and a 200 day simple moving average of $53.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77.

SJW Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a $0.42 dividend. This is an increase from SJW Group’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, February 10th. This represents a $1.68 annualized dividend and a dividend yield of 3.25%. 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.