Citigroup Inc. Boosts Stock Position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Citigroup Inc. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 4,931.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,216,372 shares of the utilities provider’s stock after purchasing an additional 1,192,198 shares during the quarter. Citigroup Inc. owned 0.18% of Companhia de Saneamento Básico do Estado de São Paulo – SABESP worth $20,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after buying an additional 911 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 506.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 923,414 shares of the utilities provider’s stock valued at $15,273,000 after acquiring an additional 771,128 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter valued at about $1,167,000. OneDigital Investment Advisors LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter worth about $196,000. Finally, Metis Global Partners LLC raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.5% during the third quarter. Metis Global Partners LLC now owns 14,157 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 3,551 shares in the last quarter. Institutional investors and hedge funds own 10.62% of the company’s stock.

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

Shares of SBS opened at $17.10 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $13.10 and a 52-week high of $18.36. The company has a 50-day simple moving average of $16.39 and a 200-day simple moving average of $15.84. The company has a market capitalization of $11.69 billion, a PE ratio of 6.72 and a beta of 1.16.

Analyst Ratings Changes

Several equities analysts have issued reports on SBS shares. StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. 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 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.