SJW Group (NYSE:SJW) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in SJW Group (NYSE:SJW - Free Report) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 327,589 shares of the utilities provider's stock after buying an additional 19,136 shares during the period. Bank of New York Mellon Corp owned approximately 1.00% of SJW Group worth $16,124,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SJW. Barclays PLC raised its stake in shares of SJW Group by 376.0% during the third quarter. Barclays PLC now owns 60,140 shares of the utilities provider's stock valued at $3,495,000 after purchasing an additional 47,506 shares during the period. Edgestream Partners L.P. raised its stake in shares of SJW Group by 120.1% during the third quarter. Edgestream Partners L.P. now owns 52,072 shares of the utilities provider's stock valued at $3,026,000 after purchasing an additional 28,417 shares during the period. Duff & Phelps Investment Management Co. purchased a new stake in shares of SJW Group during the third quarter valued at approximately $1,593,000. Franklin Resources Inc. raised its stake in shares of SJW Group by 162.6% during the third quarter. Franklin Resources Inc. now owns 42,810 shares of the utilities provider's stock valued at $2,504,000 after purchasing an additional 26,505 shares during the period. Finally, FMR LLC raised its stake in shares of SJW Group by 37.5% during the third quarter. FMR LLC now owns 92,386 shares of the utilities provider's stock valued at $5,369,000 after purchasing an additional 25,212 shares during the period. Hedge funds and other institutional investors own 84.29% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently 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 decreased their price target for the stock from $59.00 to $55.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target 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 Performance

SJW Group stock traded up $0.57 during mid-day trading on Friday, reaching $54.09. The company's stock had a trading volume of 175,346 shares, compared to its average volume of 202,560. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 3.94 and a beta of 0.58. The business has a 50 day moving average price of $50.84 and a 200-day moving average price of $54.10. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a twelve month low of $44.91 and a twelve month high of $62.18.

SJW Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a dividend of $0.42 per share. This is an increase from SJW Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.68 annualized dividend and a dividend yield of 3.11%. SJW Group's payout ratio is 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.