Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Stock Rating Lowered by StockNews.com

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to 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 Trading Up 0.1 %

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $14.41 on Friday. The company’s 50-day moving average price is $15.65 and its 200-day moving average price is $15.87. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 5.67 and a beta of 1.14. The company has a current ratio of 1.14, a quick ratio of 1.13 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.

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

A number of hedge funds have recently made changes to their positions in SBS. Citigroup Inc. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% in the 3rd quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock worth $20,119,000 after acquiring an additional 1,192,198 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 506.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 923,414 shares of the utilities provider’s stock worth $15,273,000 after purchasing an additional 771,128 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 34.8% in 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 buying an additional 389,063 shares during the last quarter. Wexford Capital LP bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at $5,228,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 483.2% during the second quarter. Cubist Systematic Strategies LLC now owns 226,173 shares of the utilities provider’s stock valued at $3,042,000 after purchasing an additional 187,390 shares during the last quarter. 10.62% of the stock is currently owned by 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.