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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

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

Shares of SBS opened at $16.14 on Monday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $8.75 and a 12 month high of $17.14. The stock has a fifty day moving average price of $16.02 and a 200-day moving average price of $14.71. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The firm has a market cap of $11.03 billion, a PE ratio of 18.77, a P/E/G ratio of 0.82 and a beta of 1.23.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBS. Goldman Sachs Group Inc. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock worth $49,607,000 after acquiring an additional 1,034,319 shares during the last quarter. Banco BTG Pactual S.A. raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% during the 4th quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock valued at $13,929,000 after buying an additional 792,276 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter valued at about $2,967,000. Kapitalo Investimentos Ltda raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 35.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 859,217 shares of the utilities provider’s stock valued at $13,086,000 after buying an additional 225,214 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 274.8% during the 3rd quarter. FMR LLC now owns 263,645 shares of the utilities provider’s stock valued at $3,195,000 after buying an additional 193,300 shares during the last quarter. Hedge funds and other 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.