H2O AMERICA
In the published model solve dated 2026-Q2, anchored at $64.22, H2O AMERICA (HTO) is priced for -4.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• H2O America, the regulated water utility formerly known as SJW Group, earns its growth by investing in pipes and treatment plants that regulators let it recover in rates, with a five-year plan to spend $2.7 billion and grow its rate base at roughly a 13% compound rate [Source: company FY2026 capital plan]. • The defining risk is the price itself: at about 23 times operating income, no standard valuation family reaches it, while leverage runs near ten times operating income and the share count
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303 institutional managers reported holding HTO in 13F filings for the quarter ended 2026-03-31. 61 opened new positions that quarter. Held by BlackRock, Vanguard Group, Wellington Management, among others. On the short side, 5.0M shares were sold short as of the 2026-06-15 count, about 13% of shares outstanding (12.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
HTO's share count grew 27.3% over the past five years. It pays a dividend, and has paid one every year in our records (16 and counting), raised 15 years straight; the current rate is $1.68 a share annually. Cash returned over the past three years: $150.93M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at HTO over the trailing three years: 2026: 1 buy totaling $130k.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
HTO's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-01 | -2.0% | -16.6% |
| 2023-11-01 | +6.4% | +3.4% |
| 2024-02-24 | -4.3% | -6.2% |
| 2024-04-27 | -2.3% | +1.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
HTO's latest 8-K filings: 2026-07-27 (items 2.02, 9.01); 2026-06-12 (items 5.02, 9.01); 2026-05-19 (items 5.07, 9.01); 2026-04-28 (items 2.02, 9.01); 2026-03-04 (items 1.01, 7.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.