Parkworth Wealth Management Inc. Takes $178,000 Position in SJW Group (NYSE:SJW)

Parkworth Wealth Management Inc. purchased a new stake in shares of SJW Group (NYSE:SJW) during the 4th quarter, according to its most recent 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.

Several other institutional investors and hedge funds have also modified their holdings of SJW. HighTower Advisors LLC boosted its holdings in SJW Group by 5.6% in the fourth quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 233 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in SJW Group by 12.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,929 shares of the utilities provider’s stock worth $439,000 after purchasing an additional 961 shares in the last quarter. AlphaQuest LLC boosted its holdings in SJW Group by 76.9% in the fourth quarter. AlphaQuest LLC now owns 9,807 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 4,264 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in SJW Group by 47.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,079 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 673 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in SJW Group in the fourth quarter worth $1,942,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SJW. 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. StockNews.com raised shares of SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their target price on shares of SJW Group from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th.

SJW Group Stock Down 1.6 %

SJW Group stock opened at $54.88 on Wednesday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 3.94 and a beta of 0.58. 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 fifty-two week low of $44.91 and a fifty-two week high of $62.18. The firm has a fifty day moving average price of $50.56 and a two-hundred day moving average price of $54.14.

SJW Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from SJW Group’s previous quarterly dividend of $0.40. SJW Group’s dividend payout ratio is currently 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.