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

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

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

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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $14.41 on Friday. 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 company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $15.68 and a 200-day moving average price of $15.87. The firm has a market capitalization of $9.85 billion, a PE ratio of 5.67 and a beta of 1.14.

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

Several large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 1.1% during the second quarter. Maryland State Retirement & Pension System now owns 415,460 shares of the utilities provider’s stock valued at $5,588,000 after acquiring an additional 4,629 shares in the last quarter. Rhumbline Advisers raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 95,903 shares of the utilities provider’s stock valued at $1,290,000 after purchasing an additional 6,233 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.2% in the 2nd quarter. Acadian Asset Management LLC now owns 29,706 shares of the utilities provider’s stock worth $399,000 after buying an additional 1,728 shares during the period. Custom Index Systems LLC bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter worth $280,000. Finally, Trium Capital LLP increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 24.8% during the second quarter. Trium Capital LLP now owns 67,830 shares of the utilities provider’s stock valued at $912,000 after buying an additional 13,490 shares during the period. 10.62% of the stock is 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.