Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Trading Up 3.8% – Should You Buy?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)’s share price rose 3.8% during mid-day trading on Tuesday . The company traded as high as $16.65 and last traded at $16.57. Approximately 262,841 shares traded hands during trading, a decline of 75% from the average daily volume of 1,058,153 shares. The stock had previously closed at $15.96.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com lowered Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 3.4 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 1.35. The company has a market capitalization of $11.28 billion, a PE ratio of 13.53 and a beta of 1.16. The company has a 50-day moving average of $16.44 and a two-hundred day moving average of $15.76.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter valued at about $45,000. Advisors Asset Management Inc. lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 911 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter worth about $95,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after buying an additional 3,324 shares during the period. Finally, First Affirmative Financial Network raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% during the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.