Itau Unibanco Holding S.A. Trims Stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Itau Unibanco Holding S.A. cut its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 56.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,207 shares of the utilities provider’s stock after selling 542,329 shares during the period. Itau Unibanco Holding S.A. owned 0.06% of Companhia de Saneamento Básico do Estado de São Paulo – SABESP worth $5,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SBS. Goldman Sachs Group Inc. raised its holdings 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 purchasing an additional 1,034,319 shares during the period. Renaissance Technologies LLC raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% in 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. Quilter Plc raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% in the second 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 period. Banco BTG Pactual S.A. lifted its position 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 in the last quarter. Finally, Perpetual Ltd grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.5% during the 1st quarter. Perpetual Ltd now owns 628,052 shares of the utilities provider’s stock valued at $10,570,000 after acquiring an additional 54,662 shares during the period. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 2.2 %

SBS opened at $17.23 on Friday. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 16.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.35 and a current ratio of 1.36. The firm’s fifty day moving average is $16.72 and its 200 day moving average is $15.72. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $11.29 and a fifty-two week high of $18.36.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $1.30 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.34% and a net margin of 15.00%. On average, sell-side analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th.

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.