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

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a report released on Wednesday morning.

Separately, The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research report on Sunday, October 6th.

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

Shares of SBS opened at $14.35 on Wednesday. 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. The stock has a market cap of $9.81 billion, a P/E ratio of 5.65 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. The company has a 50-day moving average of $15.83 and a two-hundred day moving average of $15.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,578,147 shares of the utilities provider’s stock valued at $26,103,000 after acquiring an additional 113,147 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake 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 valued at $24,923,000 after purchasing an additional 389,063 shares during the last quarter. Renaissance Technologies LLC lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% during 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 Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% during the third quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock worth $20,119,000 after buying an additional 1,192,198 shares during the period. Finally, Quilter Plc boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% in the 2nd quarter. Quilter Plc now owns 979,750 shares of the utilities provider’s stock worth $13,178,000 after buying an additional 20,759 shares during the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

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.