Canvas Wealth Advisors LLC Buys 546 Shares of SJW Group (NYSE:SJW)

Canvas Wealth Advisors LLC raised its stake in SJW Group (NYSE:SJW) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,038 shares of the utilities provider’s stock after acquiring an additional 546 shares during the period. Canvas Wealth Advisors LLC’s holdings in SJW Group were worth $346,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SJW. State of Alaska Department of Revenue boosted its stake in shares of SJW Group by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock valued at $846,000 after purchasing an additional 210 shares in the last quarter. SG Americas Securities LLC boosted its position in SJW Group by 195.7% in the fourth quarter. SG Americas Securities LLC now owns 31,919 shares of the utilities provider’s stock valued at $1,571,000 after buying an additional 21,123 shares in the last quarter. Ballentine Partners LLC grew its stake in SJW Group by 26.4% during the fourth quarter. Ballentine Partners LLC now owns 6,943 shares of the utilities provider’s stock worth $342,000 after buying an additional 1,452 shares during the last quarter. Franklin Resources Inc. increased 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 buying an additional 26,505 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of SJW Group by 1.9% in the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider’s stock valued at $42,006,000 after acquiring an additional 13,614 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

SJW Group Stock Performance

SJW stock opened at $50.82 on Monday. The stock has a market capitalization of $1.66 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.89 and a beta of 0.65. 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 company has a 50 day moving average price of $49.94 and a 200 day moving average price of $55.08. SJW Group has a fifty-two week low of $44.91 and a fifty-two week high of $62.18.

SJW Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, February 10th. This is a positive change from SJW Group’s previous quarterly dividend of $0.40. SJW Group’s dividend payout ratio is 57.97%.

Analysts Set New Price Targets

SJW has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on SJW Group from $61.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $59.00 to $55.00 in a research 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.