State Street Corp Acquires 61,874 Shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

State Street Corp lifted its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 470,822 shares of the utilities provider's stock after purchasing an additional 61,874 shares during the period. State Street Corp owned 0.07% of Companhia de Saneamento Básico do Estado de São Paulo - SABESP worth $7,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 63.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 92,800 shares of the utilities provider's stock worth $1,535,000 after acquiring an additional 36,000 shares during the last quarter. Citigroup Inc. lifted its stake in shares of 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 buying an additional 1,192,198 shares during the period. Pitcairn Co. bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the third quarter valued at about $1,016,000. Dynamic Technology Lab Private Ltd acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the third quarter worth about $966,000. Finally, Sequoia Financial Advisors LLC increased its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 13.4% during the third quarter. Sequoia Financial Advisors LLC now owns 16,709 shares of the utilities provider's stock valued at $276,000 after acquiring an additional 1,980 shares during the period. Institutional investors and hedge funds own 10.62% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SBS. 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 note on Sunday, October 6th. StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a research report on Friday.

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

SBS stock traded up $0.02 during trading on Friday, hitting $14.41. The company had a trading volume of 669,326 shares, compared to its average volume of 1,047,015. The company has a fifty day moving average price of $15.65 and a two-hundred day moving average price of $15.87. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a fifty-two week low of $13.10 and a fifty-two week high of $18.36. The company has a market cap of $9.85 billion, a P/E ratio of 5.67 and a beta of 1.14. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

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.