Parkworth Wealth Management Inc. Makes New $178,000 Investment in SJW Group (NYSE:SJW)

Parkworth Wealth Management Inc. purchased a new position in shares of SJW Group (NYSE:SJW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,623 shares of the utilities provider’s stock, valued at approximately $178,000.

Other institutional investors have also modified their holdings of the company. Arizona State Retirement System lifted its stake in SJW Group by 2.2% in the 4th 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 in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of SJW Group by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock worth $846,000 after buying an additional 210 shares during the last quarter. HighTower Advisors LLC increased its holdings in SJW Group by 5.6% in the 4th quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 233 shares in the last quarter. Point72 DIFC Ltd increased its holdings in SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 316 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in SJW Group by 1.9% in 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 in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised 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 target for the stock from $59.00 to $55.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on SJW Group from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th.

SJW Group Price Performance

Shares of NYSE:SJW opened at $54.88 on Wednesday. SJW Group has a 12 month low of $44.91 and a 12 month high of $62.18. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.94 and a beta of 0.58. The stock’s 50 day moving average price is $50.56 and its 200 day moving average price is $54.14. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.42 per share. 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 annualized dividend and a yield of 3.06%. SJW Group’s payout ratio is presently 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.