Bank of Montreal Can Trims Stock Position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Bank of Montreal Can cut its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,192 shares of the utilities provider’s stock after selling 9,900 shares during the period. Bank of Montreal Can’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $2,316,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 61.8% during the second quarter. Sei Investments Co. now owns 54,146 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 20,683 shares during the period. XTX Topco Ltd purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter worth about $275,000. Hsbc Holdings PLC raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 16.9% during the second quarter. Hsbc Holdings PLC now owns 128,471 shares of the utilities provider’s stock worth $1,728,000 after purchasing an additional 18,590 shares during the period. Beck Bode LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter valued at about $661,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter valued at about $155,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

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

Shares of SBS opened at $16.21 on Friday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $11.29 and a 1-year high of $18.36. The stock has a market cap of $11.08 billion, a PE ratio of 15.29 and a beta of 1.16. The firm has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $15.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 1.35.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 15.00% and a return on equity of 13.34%. The business had revenue of $1.30 billion during the quarter. As a group, analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Separately, 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 research report on Thursday, September 12th.

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.