Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a report released on Wednesday.

Separately, The Goldman Sachs Group raised shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research report on Sunday, October 6th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Down 5.6 %

Shares of SBS stock opened at $13.90 on Wednesday. The business’s 50 day moving average is $15.89 and its two-hundred day moving average is $15.88. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $13.10 and a 12 month high of $18.36. The company has a market cap of $9.50 billion, a PE ratio of 5.47 and a beta of 1.14.

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

Hedge funds have recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,578,147 shares of the utilities provider’s stock worth $26,103,000 after buying an additional 113,147 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 34.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,506,844 shares of the utilities provider’s stock worth $24,923,000 after acquiring an additional 389,063 shares during the period. Renaissance Technologies LLC raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider’s stock valued at $19,556,000 after purchasing an additional 108,500 shares during the last quarter. Citigroup Inc. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% during the 3rd quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock valued at $20,119,000 after purchasing an additional 1,192,198 shares during the last quarter. Finally, Quilter Plc boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% in the 2nd quarter. Quilter Plc now owns 979,750 shares of the utilities provider’s stock valued at $13,178,000 after purchasing an additional 20,759 shares during the period. 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.