Principal Financial Group Inc. Has $8.25 Million Position in H2O America (NASDAQ:HTO)

Principal Financial Group Inc. increased its stake in shares of H2O America (NASDAQ:HTO) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,907 shares of the utilities provider’s stock after purchasing an additional 3,993 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of H2O America worth $8,253,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of H2O America during the 4th quarter worth $1,942,000. Norges Bank bought a new stake in H2O America during the fourth quarter valued at about $10,255,000. Geode Capital Management LLC grew its position in shares of H2O America by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 745,624 shares of the utilities provider’s stock valued at $36,708,000 after purchasing an additional 22,890 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of H2O America in the fourth quarter valued at about $328,000. Finally, Wells Fargo & Company MN lifted its position in shares of H2O America by 9.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,023 shares of the utilities provider’s stock worth $1,281,000 after purchasing an additional 2,310 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

H2O America Price Performance

NASDAQ:HTO opened at $50.16 on Wednesday. H2O America has a 52 week low of $44.91 and a 52 week high of $62.18. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.65 and a beta of 0.53. The firm’s 50-day simple moving average is $53.64 and its 200 day simple moving average is $52.71. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.66 and a current ratio of 0.66.

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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, May 12th. H2O America’s payout ratio is 56.38%.

Analyst Upgrades and Downgrades

HTO has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of H2O America from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. Wall Street Zen initiated coverage on shares of H2O America in a research report on Thursday, May 22nd. They set a “hold” rating on the stock.

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.