Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Downgraded by StockNews.com to “Hold”

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, 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 0.1 %

Shares of NYSE:SBS traded up $0.02 during trading on Friday, reaching $14.41. 669,326 shares of the stock traded hands, compared to its average volume of 1,047,015. The stock has a market cap of $9.85 billion, a P/E ratio of 5.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14. The stock has a 50-day moving average of $15.68 and a two-hundred day moving average of $15.87. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $13.10 and a 52-week high of $18.36.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of large investors have recently added to or reduced their stakes in SBS. Allspring Global Investments Holdings LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter worth about $45,000. Advisors Asset Management Inc. boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the third quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock worth $60,000 after buying an additional 911 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in 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 valued at $125,000 after buying an additional 3,324 shares during the period. Inspire Advisors LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at approximately $166,000. Finally, Atomi Financial Group Inc. purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at approximately $176,000. 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.