Magellan Asset Management Ltd Has $1.05 Million Stock Holdings in SJW Group (NYSE:SJW)

Magellan Asset Management Ltd lowered its position in shares of SJW Group (NYSE:SJW) by 15.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,268 shares of the utilities provider’s stock after selling 3,748 shares during the period. Magellan Asset Management Ltd’s holdings in SJW Group were worth $1,047,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SJW. Arizona State Retirement System raised its stake in SJW Group by 2.2% in the 4th quarter. Arizona State Retirement System now owns 9,015 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 197 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of SJW Group by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock valued at $846,000 after buying an additional 210 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of SJW Group by 5.6% in the fourth quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider’s stock valued at $218,000 after buying an additional 233 shares during the period. Point72 DIFC Ltd grew its position in SJW Group by 81.4% during the third quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after buying an additional 316 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in SJW Group by 1.9% in the fourth quarter. Vontobel Holding Ltd. now owns 18,930 shares of the utilities provider’s stock valued at $932,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

SJW Group Stock Down 0.6 %

Shares of NYSE:SJW opened at $53.87 on Thursday. The company has a market capitalization of $1.81 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 3.94 and a beta of 0.58. SJW Group has a 1 year low of $44.91 and a 1 year high of $62.18. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $52.40 and a two-hundred day moving average price of $53.51.

SJW Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Monday, February 10th. This is an increase from SJW Group’s previous quarterly dividend of $0.40. SJW Group’s dividend payout ratio (DPR) is 58.95%.

Analyst Ratings Changes

SJW has been the subject of several recent analyst reports. StockNews.com upgraded SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price objective on SJW Group from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Bank of America upgraded SJW Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $59.00 to $55.00 in a report on Monday, February 3rd.

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.