KLP Kapitalforvaltning AS Makes New $300,000 Investment in SJW Group (NYSE:SJW)

KLP Kapitalforvaltning AS purchased a new stake in SJW Group (NYSE:SJW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,100 shares of the utilities provider's stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SJW. Duff & Phelps Investment Management Co. acquired a new position in SJW Group during the 3rd quarter worth about $1,593,000. Geode Capital Management LLC increased its stake 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 worth $42,006,000 after purchasing an additional 13,614 shares during the period. State of New Jersey Common Pension Fund D increased its stake in SJW Group by 11.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 38,063 shares of the utilities provider's stock worth $1,873,000 after purchasing an additional 3,952 shares during the period. SG Americas Securities LLC lifted its position in shares of SJW Group by 195.7% during the fourth 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of SJW Group in the fourth quarter valued at approximately $574,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SJW. StockNews.com raised shares of SJW Group from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Bank of America upgraded shares of SJW Group from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $59.00 to $55.00 in a research note on Monday, February 3rd. Finally, 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 research note on Friday, February 28th.

SJW Group Stock Up 3.5 %

Shares of SJW Group stock traded up $1.79 on Friday, reaching $53.42. 645,894 shares of the company were exchanged, compared to its average volume of 226,437. The stock's 50 day moving average price is $52.86 and its 200-day moving average price is $53.10. 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 1-year low of $44.91 and a 1-year high of $62.18. The company has a market cap of $1.82 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 3.94 and a beta of 0.56.

SJW Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.14%. The ex-dividend date was Monday, February 10th. This is a boost from SJW Group's previous quarterly dividend of $0.40. 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.