Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,148 shares of the utilities provider’s stock after selling 2,921 shares during the period. The Manufacturers Life Insurance Company’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $1,535,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBS. Summit Securities Group LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter valued at approximately $95,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 3,324 shares during the period. First Affirmative Financial Network lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% during the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 1,069 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter valued at about $155,000. Finally, QRG Capital Management Inc. raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% in the 1st quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock valued at $196,000 after acquiring an additional 780 shares during the period. Institutional investors and hedge funds own 10.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SBS. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th. StockNews.com downgraded 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 Price Performance

Shares of SBS opened at $15.90 on Friday. The stock has a market capitalization of $10.87 billion, a P/E ratio of 15.00 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a twelve month low of $11.46 and a twelve month high of $18.36. The company has a 50 day moving average of $17.02 and a 200-day moving average of $15.81. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.61.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 EPS for the current fiscal year.

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