Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Trading Up 3.8% – Here’s Why

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $16.65 and last traded at $16.57. 262,841 shares were traded during trading, a decline of 75% from the average session volume of 1,058,153 shares. The stock had previously closed at $15.96.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SBS shares. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note on Sunday, October 6th. StockNews.com cut shares of 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.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

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

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

Institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of 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 purchasing an additional 389,063 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,465,000 shares of the utilities provider’s stock worth $19,704,000 after buying an additional 90,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% in the second quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider’s stock worth $19,556,000 after buying an additional 108,500 shares during the period. Citigroup Inc. lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% in the third quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock worth $20,119,000 after purchasing an additional 1,192,198 shares in the last quarter. Finally, Quilter Plc raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% during the second quarter. Quilter Plc now owns 979,750 shares of the utilities provider’s stock valued at $13,178,000 after acquiring an additional 20,759 shares in the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

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.