Magellan Asset Management Ltd Takes $1.77 Million Position in H2O America $HTO

Magellan Asset Management Ltd acquired a new position in H2O America (NASDAQ:HTO) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 29,063 shares of the utilities provider’s stock, valued at approximately $1,766,000.

A number of other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in H2O America by 194.9% in the fourth quarter. Quadrant Capital Group LLC now owns 525 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 347 shares during the period. Parallel Advisors LLC grew its stake in shares of H2O America by 1,020.8% during the 4th quarter. Parallel Advisors LLC now owns 594 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 541 shares during the period. Bessemer Group Inc. increased its position in shares of H2O America by 44.6% during the 1st quarter. Bessemer Group Inc. now owns 661 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 204 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of H2O America during the 4th quarter valued at about $40,000. Finally, Allworth Financial LP bought a new position in shares of H2O America in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

H2O America Price Performance

HTO opened at $63.48 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.67 and a current ratio of 1.67. H2O America has a fifty-two week low of $43.75 and a fifty-two week high of $67.09. The firm’s fifty day moving average is $61.72 and its 200 day moving average is $58.63. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 7.31 and a beta of 0.34.

H2O America (NASDAQ:HTO) last issued its quarterly earnings results on Monday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. H2O America had a return on equity of 6.65% and a net margin of 12.91%.The business had revenue of $210.47 million during the quarter. H2O America has set its FY 2026 guidance at 3.080-3.180 EPS. On average, sell-side analysts forecast that H2O America will post 2.8 earnings per share for the current fiscal year.

H2O America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, August 10th. H2O America’s dividend payout ratio is presently 62.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of H2O America from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of H2O America from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Seaport Research Partners reissued a “buy” rating and set a $67.00 price objective on shares of H2O America in a research report on Wednesday, August 12th. Wells Fargo & Company initiated coverage on H2O America in a report on Monday, May 11th. They issued an “equal weight” rating and a $60.00 target price on the stock. Finally, BTIG Research set a $70.00 target price on H2O America in a research report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.67.

Insiders Place Their Bets

In related news, major shareholder Atlas Infrastructure Partners acquired 2,784 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was acquired at an average cost of $62.03 per share, with a total value of $172,691.52. Following the acquisition, the insider directly owned 4,615,265 shares in the company, valued at $286,284,887.95. This represents a 0.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.52% of the stock is owned by insiders.

H2O America 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.