StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) from a hold rating to a buy rating in a report released on Thursday.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP Trading Up 1.4 %
NYSE SBS traded up $0.23 during trading hours on Thursday, hitting $16.76. 629,989 shares of the company's stock were exchanged, compared to its average volume of 732,308. 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. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $15.11 and a 200 day simple moving average of $16.08. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 6.60 and a beta of 1.14.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4,931.7% in the third quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider's stock valued at $20,119,000 after purchasing an additional 1,192,198 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 506.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 923,414 shares of the utilities provider's stock valued at $15,273,000 after buying an additional 771,128 shares in the last quarter. Verde Servicos Internacionais S.A. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 603.1% during the 4th quarter. Verde Servicos Internacionais S.A. now owns 667,196 shares of the utilities provider's stock worth $9,561,000 after buying an additional 572,308 shares during the period. Amundi boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 6.7% in the fourth quarter. Amundi now owns 6,752,801 shares of the utilities provider's stock worth $96,732,000 after acquiring an additional 426,669 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 34.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,506,844 shares of the utilities provider's stock valued at $24,923,000 after acquiring an additional 389,063 shares during the period. 10.62% of the stock is owned by institutional investors.
About Companhia de Saneamento Básico do Estado de São Paulo - SABESP
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Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.
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