Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Pass Above 200 Day Moving Average of $15.01

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.01 and traded as high as $15.89. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $15.68, with a volume of 1,043,185 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th.

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

The firm has a market capitalization of $10.71 billion, a P/E ratio of 18.23, a P/E/G ratio of 0.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 0.99. The firm has a 50-day moving average price of $15.96 and a two-hundred day moving average price of $15.01.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Investors of record on Monday, April 29th will be issued a dividend of $0.2808 per share. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. The ex-dividend date of this dividend is Friday, April 26th. This represents a yield of 1.4%. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio (DPR) is presently 26.74%.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of hedge funds have recently added to or reduced their stakes in SBS. Pingora Partners LLC bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter valued at approximately $30,000. Blue Trust Inc. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% during the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 2,042 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock worth $96,000 after buying an additional 921 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after buying an additional 857 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at $125,000. 10.62% of the stock is currently 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.