Magellan Asset Management Ltd Has $1.05 Million Stock Holdings in SJW Group (NYSE:SJW)

Magellan Asset Management Ltd trimmed its holdings in shares of SJW Group (NYSE:SJW) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,268 shares of the utilities provider’s stock after selling 3,748 shares during the period. Magellan Asset Management Ltd owned 0.07% of SJW Group worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Duff & Phelps Investment Management Co. acquired a new position in SJW Group during the 3rd quarter worth $1,593,000. Geode Capital Management LLC raised its position in shares of SJW Group by 1.9% during the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider’s stock worth $42,006,000 after acquiring an additional 13,614 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SJW Group by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider’s stock valued at $21,499,000 after acquiring an additional 20,646 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in SJW Group by 11.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 38,063 shares of the utilities provider’s stock valued at $1,873,000 after acquiring an additional 3,952 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in SJW Group by 195.7% during the 4th quarter. SG Americas Securities LLC now owns 31,919 shares of the utilities provider’s stock worth $1,571,000 after purchasing an additional 21,123 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SJW has been the subject of several analyst reports. StockNews.com upgraded shares of SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America raised shares of 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 upped their target price on shares of SJW Group from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th.

SJW Group Stock Down 0.6 %

SJW stock opened at $53.87 on Thursday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 3.94 and a beta of 0.58. SJW Group has a twelve month low of $44.91 and a twelve month high of $62.18. The business has a 50 day moving average price of $52.40 and a two-hundred day moving average price of $53.51. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.42 dividend. This is an increase from SJW Group’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Monday, February 10th. SJW Group’s payout ratio is currently 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.