StockNews.com Downgrades Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) to Hold

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

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

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

Shares of NYSE:SBS traded up $0.02 on Friday, hitting $14.41. The company’s stock had a trading volume of 669,326 shares, compared to its average volume of 1,047,015. The company has a market capitalization of $9.85 billion, a PE ratio of 5.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13. The company has a 50-day simple moving average of $15.68 and a 200 day simple moving average of $15.87. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1 year low of $13.10 and a 1 year high of $18.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at approximately $733,000. Daiwa Securities Group Inc. grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 63.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 92,800 shares of the utilities provider’s stock worth $1,535,000 after buying an additional 36,000 shares during the last quarter. Citigroup Inc. increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% during the 3rd quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock valued at $20,119,000 after buying an additional 1,192,198 shares in the last quarter. Pitcairn Co. purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at $1,016,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter worth $966,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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.