H2O America (NASDAQ:HTO) Shares Down 3.6% - Here's Why

Shares of H2O America (NASDAQ:HTO - Get Free Report) traded down 3.6% on Tuesday . The company traded as low as $50.02 and last traded at $50.16. 365,457 shares traded hands during trading, an increase of 79% from the average session volume of 203,986 shares. The stock had previously closed at $52.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen started coverage on H2O America in a research report on Thursday, May 22nd. They issued a "hold" rating on the stock. Wells Fargo & Company raised their price target on H2O America from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th.

H2O America Stock Performance

The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 2.57 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $53.43 and a 200-day moving average price of $52.58.

H2O America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, May 12th. H2O America's payout ratio is 56.38%.

Institutional Investors Weigh In On H2O America

Several hedge funds have recently modified their holdings of HTO. Quarry LP boosted its stake in shares of H2O America by 123.4% during the 4th quarter. Quarry LP now owns 668 shares of the utilities provider's stock worth $33,000 after acquiring an additional 369 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of H2O America by 64.4% during the 4th quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider's stock worth $38,000 after acquiring an additional 300 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of H2O America during the 1st quarter worth about $47,000. Sterling Capital Management LLC raised its position in shares of H2O America by 842.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,055 shares of the utilities provider's stock worth $52,000 after purchasing an additional 943 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of H2O America by 190.5% during the 1st quarter. GAMMA Investing LLC now owns 1,342 shares of the utilities provider's stock worth $73,000 after purchasing an additional 880 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

H2O America Company 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.