H2O America (HTO) Stock Price & Analysis
H2O America (HTO) closed at USD 58.66 on Thursday, October 22, 2026, up 4.41% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 56.18; the Oct 22, 2026 session ranged USD 56.62–58.68 on volume of 445,564 shares. Market capitalization is $2.46B, with a 52-week range of USD 43.75–67.09 (NMS). Source: Nexqual, retrieved October 23, 2026 at 10:11 UTC.
Also available as compact Markdown for AI agents: nexqual.com/HTO.md
Key facts (HTO)
- Last four reported quarters (through Jun 30, 2026): revenue $836M, net income $107M (12.8% margin) (SEC filings).
- Valuation: P/E 23.0x (avg 19.4x at the last 3 fiscal year-ends), EV/EBITDA 13.9x, net debt $1.79B.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $102K; 1 not under a Rule 10b5-1 plan ($102K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $6.3M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.14 on a 1–5 scale) (7 analysts), mean target USD 65.14 (range 60–72).
- Total return with dividends: 1Y +19.4% vs S&P 500 +14.9%; 5Y -2.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD 1.08, revenue estimate $250M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (HTO)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $574M | $621M | $678M | $748M | $806M | $836M |
| Operating income | $111M | $131M | $149M | $171M | $178M | $178M |
| Net income | $60.5M | $73.8M | $85.0M | $94.0M | $103M | $107M |
| EPS (diluted) | $2.03 | $2.43 | $2.68 | $2.87 | $2.92 | — |
| Operating margin | 19.4% | 21.1% | 22.0% | 22.8% | 22.0% | 21.3% |
| Net margin | 10.5% | 11.9% | 12.5% | 12.6% | 12.7% | 12.8% |
| Revenue growth | +1.6% | +8.2% | +9.3% | +10.4% | +7.6% | — |
| Cash + short-term investments | $10.9M | $12.3M | $9.7M | $11.1M | $20.7M | — |
| Total debt | $1.53B | $1.50B | $1.58B | $1.72B | $1.90B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (HTO)
P/E 23.0x · P/S 2.9x · EV/EBITDA 13.9x · EV/Sales 5.1x · P/B 1.3x · Earnings yield 4.36% · Dividend yield (paid, TTM) 2.62% · Net debt $1.79B · EV $4.24B
P/E at fiscal year-ends: Dec 2025 16.8x, Dec 2024 17.2x, Dec 2023 24.3x.
Insider sales (SEC Form 4, open-market, last ~7 months) (HTO)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-01 | Atlas Infrastructure Partners (uk) Ltd. | 1,686 | $102K | 0% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (HTO)
4 purchases, $6.3M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-07 | Atlas Infrastructure Partners (uk) Ltd. | 2,784 | $173K | 62.03 | Too little history (no open-market trades in 2023–2025) | |
| 2026-07-01 | Atlas Infrastructure Partners (uk) Ltd. | 2,132 | $130K | 60.76 | Too little history (no open-market trades in 2023–2025) | |
| 2026-04-10 | Gip Atlas Holdings Ltd | 50,385 | $3.0M | 59.06 | Too little history (no open-market trades in 2023–2025) | |
| 2026-04-10 | Atlas Infrastructure Partners (uk) Ltd. | 50,385 | $3.0M | 59.06 | Too little history (no open-market trades in 2023–2025) |
Analysts (HTO)
Consensus Buy (mean 2.14 on a 1–5 scale), 7 analysts; mean target USD 65.14 (low 60, high 72).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Barclays | Target lowered | Overweight | $66 → $65 |
| 2026-09-30 | Barclays | Target lowered | Overweight | $67 → $66 |
| 2026-07-29 | Baird | Target raised | Outperform | $67 → $72 |
| 2026-07-15 | Barclays | Target raised | Overweight | $60 → $67 |
Total return (dividends reinvested) (HTO)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +19.4% | -2.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +19.4% | -0.5% |
| Volatility (annualized) | 23.0% | 24.5% |
| Max drawdown | -14.0% (Jul 2026→Oct 2026) | -41.2% (Dec 2022→Jan 2025) |
HTO suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Quadvest | “•successfully managing relationships with our combined customer base and retaining Quadvest's customers;” |
Quoted from the company's 10-K filed Feb 26, 2026.
HTO company outlook (results filed Jul 27, 2026)
- “Further, we continue to expect to deliver a non-linear adjusted diluted EPS CAGR at or above the top end of the 6-8% range over the 2026-30 period.”
- “SJWC estimates the total capital cost of the project to be approximately $176 million.”
- “On June 30, 2026, the CPUC approved Advice Letter 629A, which requested an $8.4 million increase in revenue on July 1, 2026 for SJWC's incremental $52.9 million of investments in its Advanced Metering Infrastructure (AMI) project.”
Quoted word-for-word from the SEC 8-K results press release.
HTO analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.08 | $1.11 | -2.5% | $250.5M | 4 |
| Next quarter (ends Dec 2026) | $0.51 | $0.49 | +3.3% | $215.3M | 2 |
| Current fiscal year (ends Dec 2026) | $2.75 | $2.75 | +0.1% | $866.6M | 6 |
| Next fiscal year (ends Dec 2027) | $2.77 | $2.76 | +0.3% | $928.7M | 5 |
HTO options: expected move
Options price a move of about ±6.8% (±$4.00) by Nov 20, 2026, which includes earnings on Oct 26, 2026. Over the last 8 reports the stock moved ±2.9% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 40.7% | ±6.8% |
| Dec 18, 2026 | 56 | 27.3% | ±8.9% |
| Mar 19, 2027 | 147 | 25.6% | ±13.2% |
| Jun 17, 2027 | 237 | 22.7% | ±14.7% |
30-day implied volatility 20.8% vs 22.3% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:11 UTC)
| Price | USD 58.66 |
|---|---|
| Change | ▲ 4.41% (up) |
| Previous Close | USD 56.18 |
| Open | USD 56.73 |
| Day Range | USD 56.62 – 58.68 |
| 52-Week Range | USD 43.75 – 67.09 |
| Volume | 445,564 shares |
| Market Cap | $2.46B |
| Exchange | NMS |
Technical Analysis (HTO)
Nexqual's technical model rates HTO "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:11 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 45.05 (neutral) |
| vs SMA50 | Below (USD 61.54) |
| MACD | -1.33 (negative) |
Analyst Ratings (HTO)
Wall Street analysts rate HTO "Buy" based on 7 analysts, with a mean price target of USD 65.14 (range USD 60–72), per Nexqual as of October 23, 2026 at 10:11 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 65.14 |
| High Target | USD 72 |
| Low Target | USD 60 |
| Buy / Hold / Sell | 5 / 2 / 0 |
Earnings (HTO)
| Next Earnings Date | 2026-10-26 |
|---|---|
| EPS Estimate | USD 1.08 |
| Revenue Estimate | $250.48M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.72 vs est 0.7 ▲ beat |
| 2026-03-31 | USD 0.5 vs est 0.49 ▲ beat |
| 2025-12-31 | USD 0.46 vs est 0.5 ▼ miss |
| 2025-09-30 | USD 1.27 vs est 1.18 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financials & Fundamentals (HTO)
| Total Revenue | $828.50M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +6.20% |
| Gross Margin | +56.91% |
| Operating Margin | +21.26% |
| Profit Margin | +12.91% |
| ROE | +6.46% |
| Debt / Equity | 1.03 |
| Current Ratio | 1.67 |
| Total Cash | $104.10M |
| Total Debt | $1.89B |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financial Health Score (HTO)
Nexqual rates H2O America's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:11 UTC.
| Growth | Solid — Revenue +7% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 57%, operating 21% (last 12 months) |
| Balance Sheet | Mixed — $104M cash and investments vs $1.89B debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $245M (TTM) |
| Efficiency | Mixed — ROE 6%, ROA 2.3% |
Ownership (HTO)
| Insider Ownership | +17.59% |
|---|---|
| Institutional Ownership | +119.78% |
| Shares Outstanding | 41.86M |
| Float | 36.49M |
| Short % of Float | +6.39% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Leadership (HTO)
H2O America is led by Andrew F. Walters, CEO & Chairman, per Nexqual as of October 23, 2026 at 10:11 UTC.
| CEO & Chairman | Andrew F. Walters |
|---|---|
| President & COO | Bruce A. Hauk |
| CFO & Treasurer | Ann P. Kelly |
| Senior Director of Treasury & Investor Relations | Jonathan Garrett Reeder |
| Vice President of Corporate Communications | Michael Ambrozewicz |
Major Backers & Investors (HTO)
Notable institutional backers of H2O America include ATLAS Infrastructure Partners (UK) Ltd., Wellington Management, Antipodes Partners Ltd., according to Nexqual as of October 23, 2026 at 10:11 UTC.
Active Investors
| Investor | Stake |
|---|---|
| ATLAS Infrastructure Partners (UK) Ltd. | 13.87% |
| Wellington Management | 6% |
| Antipodes Partners Ltd. | 5.29% |
| Cerity Partners LLC | 3.93% |
| Soros Fund Management LLC | 3.77% |
| Victory Capital Management Inc. | 3.51% |
| Victory Portfolios-Victory Sycamore Small Company Opportunity Fund | 1.73% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 21.37% |
| Vanguard Group | 8.53% |
| State Street | 4.68% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
From H2O America's Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- The filing sought a $2.9 million, or 19.9%, increase in revenue requirement, proposed to be phased in over two years with a 12% increase effective July 1, 2023 followed by a 9% increase effective July 1, 2024, with a slight decrease in year three to reach the overall 19.9% requested.
- The proposal requested an increase in annual revenues of approximately $1.1 million, or 15.9%, over then-current authorized revenues.
- Our California and Connecticut subsidiaries operate in particularly competitive labor markets; we believe our compensation package and benefit programs allow us to recruit and retain talented and qualified personnel.
Partnerships
- The company reached a settlement agreement with MPUC and the Office of the Public Advocate and filed a stipulated settlement agreement with the MPUC on December 22, 2023.
- Effective October 2024, SJWC entered into a 12-year agreement with Cupertino subject to an additional term of eight years if agreed to by the parties.
Legal & Regulatory Risks (Item 1A, quoted)
- Our business is regulated and may be adversely affected by changes to the regulatory environment.
- New or more stringent environmental regulations could increase Water Utility Services' operating costs and affect its business.
- New or more stringent environmental and water quality regulations could increase Water Utility Services' water quality compliance costs, hamper Water Utility Services' available water supplies, and increase future capital expenditures.
- The impact of climate change and climate change laws and regulations have been passed and are being proposed that require compliance with greenhouse gas emissions standards, as well as other climate change initiatives, which could increase Water Utility Services' operating costs and affect our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CWT | California Water Service Group | USD 47.54 | ▲ 3.55% |
| AWR | American States Water Company | USD 85.05 | ▲ 3.54% |
| MSEX | Middlesex Water Company | USD 55.8 | ▲ 4.05% |
| YORW | The York Water Company | USD 31.69 | ▲ 3.7% |
| WTRG | Essential Utilities, Inc. | USD 43.3 | ▲ 6.28% |
| CWCO | Consolidated Water Co. Ltd. | USD 28.05 | ▲ 3.31% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:11 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt