Prosperity Consulting Group LLC Invests $230,000 in SJW Group (NYSE:SJW)

Prosperity Consulting Group LLC has invested $230,000 in SJW Group (NYSE:SJW) by purchasing 4,675 shares during the fourth quarter. Other institutional investors have also increased their stakes in SJW Group. The company recently raised its quarterly dividend from $0.40 to $0.42 per share, with a dividend yield of 3.14%. Analysts have upgraded their ratings and adjusted price targets for SJW Group, reflecting positive sentiment towards the stock.

Prosperity Consulting Group LLC purchased a new position in SJW Group (NYSE:SJW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,675 shares of the utilities provider's stock, valued at approximately $230,000.

A number of other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. increased its position in SJW Group by 64.4% during the fourth quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider's stock worth $38,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC grew its position in SJW Group by 842.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,055 shares of the utilities provider's stock worth $52,000 after buying an additional 943 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of SJW Group by 47.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,079 shares of the utilities provider's stock worth $102,000 after buying an additional 673 shares during the period. Parkworth Wealth Management Inc. bought a new stake in SJW Group in the fourth quarter valued at $178,000. Finally, ELCO Management Co. LLC bought a new stake in SJW Group in the fourth quarter valued at $212,000. 84.29% of the stock is owned by institutional investors and hedge funds.

SJW Group Trading Down 0.5 %

NYSE SJW opened at $53.51 on Tuesday. The firm has a market cap of $1.83 billion, a P/E ratio of 19.39, a P/E/G ratio of 3.94 and a beta of 0.56. 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 stock's 50-day moving average is $53.38 and its 200-day moving average is $52.85. SJW Group has a one year low of $44.91 and a one year high of $62.18.

SJW Group Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from SJW Group's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.14%. SJW Group's dividend payout ratio (DPR) is presently 58.95%.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on SJW

About SJW Group

(Free Report)

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.

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