Proficio Capital Partners LLC Invests $574,000 in SJW Group (NYSE:SJW)

Proficio Capital Partners LLC purchased a new position in SJW Group (NYSE:SJW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,665 shares of the utilities provider's stock, valued at approximately $574,000.

Several other large investors have also recently modified their holdings of the business. Jennison Associates LLC lifted its position in shares of SJW Group by 22.7% during the third quarter. Jennison Associates LLC now owns 24,743 shares of the utilities provider's stock worth $1,438,000 after acquiring an additional 4,580 shares in the last quarter. Intech Investment Management LLC purchased a new position in SJW Group during the 3rd quarter valued at about $307,000. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 20,646 shares during the period. Daiwa Securities Group Inc. increased its holdings in SJW Group by 12.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,968 shares of the utilities provider's stock worth $463,000 after acquiring an additional 879 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in SJW Group during the 3rd quarter worth approximately $620,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America raised shares of SJW Group from a "neutral" rating to a "buy" rating and cut their price target for the company from $59.00 to $55.00 in a report on Monday, February 3rd. Wells Fargo & Company raised their price objective 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. Finally, StockNews.com upgraded SJW Group from a "sell" rating to a "hold" rating in a research report on Friday, February 28th.

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SJW Group Price Performance

Shares of SJW stock traded up $0.34 during trading hours on Thursday, hitting $52.28. 204,853 shares of the company's stock were exchanged, compared to its average volume of 272,780. SJW Group has a 12-month low of $44.91 and a 12-month high of $62.18. The company has a market capitalization of $1.76 billion, a PE ratio of 18.94, a PEG ratio of 3.94 and a beta of 0.58. The business's 50 day simple moving average is $51.79 and its 200-day simple moving average is $53.69. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.21%. This is a positive change from SJW Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, February 10th. SJW Group's dividend payout ratio is presently 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.