Private Advisor Group LLC Sells 6,318 Shares of H2O America (NASDAQ:HTO)

Key Points

• Private Advisor Group LLC cut its stock holdings in H2O America by 30.2%, owning 14,577 shares valued at approximately $797,000 after selling 6,318 shares in Q1.
• Several institutional investors have increased their stakes in H2O America, with Quarry LP growing its holdings by 123.4% in the fourth quarter.
• Wells Fargo & Company raised its price target for H2O America from $57.00 to $60.00, maintaining an "equal weight" rating.

Private Advisor Group LLC trimmed its position in H2O America (NASDAQ:HTO - Free Report) by 30.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,577 shares of the utilities provider's stock after selling 6,318 shares during the period. Private Advisor Group LLC's holdings in H2O America were worth $797,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of H2O America by 197.0% in the fourth quarter. First Trust Advisors LP now owns 1,317,721 shares of the utilities provider's stock valued at $64,858,000 after acquiring an additional 873,973 shares during the last quarter. Norges Bank acquired a new stake in shares of H2O America in the fourth quarter valued at about $10,255,000. Victory Capital Management Inc. increased its position in shares of H2O America by 101.8% in the first quarter. Victory Capital Management Inc. now owns 335,164 shares of the utilities provider's stock valued at $18,330,000 after acquiring an additional 169,038 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of H2O America by 58.8% in the first quarter. Assenagon Asset Management S.A. now owns 243,229 shares of the utilities provider's stock valued at $13,302,000 after acquiring an additional 90,031 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of H2O America by 131.4% in the fourth quarter. JPMorgan Chase & Co. now owns 153,687 shares of the utilities provider's stock valued at $7,564,000 after acquiring an additional 87,260 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HTO has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on H2O America from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Wall Street Zen initiated coverage on H2O America in a research report on Thursday, May 22nd. They issued a "hold" rating on the stock.

H2O America Stock Performance

NASDAQ HTO traded up $0.89 during trading on Friday, reaching $49.18. 78,352 shares of the company's stock were exchanged, compared to its average volume of 267,697. The business has a 50 day moving average price of $52.51 and a 200-day moving average price of $52.14. The stock has a market capitalization of $1.68 billion, a P/E ratio of 16.12, a PEG ratio of 2.50 and a beta of 0.53. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.66. H2O America has a fifty-two week low of $44.91 and a fifty-two week high of $61.97.

H2O America (NASDAQ:HTO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The utilities provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. H2O America had a return on equity of 7.67% and a net margin of 13.03%. The firm had revenue of $198.26 million for the quarter, compared to the consensus estimate of $183.26 million. Sell-side analysts forecast that H2O America will post 2.75 earnings per share for the current fiscal year.

H2O America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, August 11th. H2O America's payout ratio is currently 55.08%.

About H2O America

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.