Bank of America Corp DE Purchases 176,992 Shares of H2O America $HTO

Key Points

• Bank of America acquired 176,992 shares of H2O America during the second quarter, worth approximately $10.8 million and representing about 0.42% of the company. Institutional investors collectively own 84.29% of H2O America.
• Analyst sentiment is moderately positive: five analysts rate the stock a Buy and four rate it a Hold, producing an average target price of $65.67 versus the reported share price of $62.27.
• H2O America exceeded quarterly earnings expectations, reporting EPS of $0.72 versus the $0.70 consensus estimate. The company pays a quarterly dividend of $0.44 per share, equivalent to a 2.8% annualized yield.

Bank of America Corp DE purchased a new position in H2O America (NASDAQ:HTO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 176,992 shares of the utilities provider's stock, valued at approximately $10,756,000. Bank of America Corp DE owned approximately 0.42% of H2O America at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gallagher Fiduciary Advisors LLC bought a new position in H2O America in the 2nd quarter valued at approximately $446,000. Man Group plc purchased a new position in H2O America in the 2nd quarter worth about $1,594,000. Jupiter Topco LLC bought a new position in H2O America during the 2nd quarter valued at about $908,000. Legal & General Group Plc bought a new position in H2O America during the 2nd quarter valued at about $34,792,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of H2O America during the 2nd quarter valued at about $974,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HTO has been the subject of a number of research analyst reports. BTIG Research set a $70.00 price target on shares of H2O America in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of H2O America from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Robert W. Baird raised their target price 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. Barclays lifted their target price on shares of H2O America from $60.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of H2O America in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.67.

Insider Buying and Selling at H2O America

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

H2O America Stock Up 0.1%

Shares of HTO stock opened at $62.27 on Friday. H2O America has a 12 month low of $43.75 and a 12 month high of $67.09. The stock has a market cap of $2.61 billion, a P/E ratio of 22.00, a P/E/G ratio of 7.17 and a beta of 0.34. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.02. The company has a 50 day simple moving average of $63.18 and a two-hundred day simple moving average of $60.15.

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

H2O America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 10th. H2O America's payout ratio is presently 62.19%.

About H2O America

H2O America, Inc NASDAQ: HTO is a regulated water utility holding company that provides water and wastewater services to residential, commercial, industrial and public-sector customers. Through its operating subsidiaries, the company owns and manages water supply, treatment, storage and distribution infrastructure, and is responsible for delivering reliable drinking water and related utility services.

The company serves communities primarily in California, Connecticut and Maine. Its operations include the San Jose Water Company, which has a long history of serving customers in the greater San Jose area, as well as water utility businesses in the northeastern United States.

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