39,448 Shares in SJW Group (NYSE:SJW) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in SJW Group (NYSE:SJW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 39,448 shares of the utilities provider's stock, valued at approximately $1,942,000. Raymond James Financial Inc. owned about 0.12% of SJW Group at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted 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 in the last quarter. Edgestream Partners L.P. grew its holdings in SJW Group by 120.1% during the 3rd quarter. Edgestream Partners L.P. now owns 52,072 shares of the utilities provider's stock worth $3,026,000 after acquiring an additional 28,417 shares during the last quarter. Duff & Phelps Investment Management Co. acquired a new position in SJW Group in the 3rd quarter valued at approximately $1,593,000. Franklin Resources Inc. lifted its holdings 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 worth $2,504,000 after purchasing an additional 26,505 shares during the period. Finally, FMR LLC lifted its holdings 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 worth $5,369,000 after purchasing an additional 25,212 shares during the period. 84.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SJW. StockNews.com upgraded shares of SJW Group from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Wells Fargo & Company increased their price target on SJW Group from $53.00 to $57.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Bank of America upgraded shares of SJW Group from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Monday, February 3rd.

Remove Ads

SJW Group Stock Performance

SJW stock traded up $0.87 during mid-day trading on Thursday, hitting $54.74. The company had a trading volume of 412,203 shares, compared to its average volume of 219,982. The firm has a market cap of $1.84 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 3.94 and a beta of 0.58. The stock's fifty day moving average price is $52.40 and its two-hundred day moving average price is $53.51. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a 12 month low of $44.91 and a 12 month high of $62.18.

SJW Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, February 10th. This is an increase from SJW Group's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 3.07%. SJW Group's dividend 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.