Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded 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 research report sent to investors on Wednesday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Down 1.1 %

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $16.95 on Wednesday. The business has a 50 day moving average price of $16.23 and a two-hundred day moving average price of $15.64. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $11.29 and a 12 month high of $18.36. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 15.99 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $1.30 billion during the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.35% and a net margin of 15.00%. As a group, equities analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 EPS for the current year.

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 made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% in the fourth 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 in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,465,000 shares of the utilities provider’s stock worth $19,704,000 after buying an additional 90,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% during the 2nd 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 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 valued at $13,178,000 after buying an additional 20,759 shares in the last quarter. Finally, Banco BTG Pactual S.A. boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% in 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. 10.62% of the stock is owned by institutional investors.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

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.