Fmr LLC Reduces Stock Position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

FMR LLC trimmed its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 58.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,497 shares of the utilities provider's stock after selling 189,903 shares during the period. FMR LLC's holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 34.8% during the 3rd 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 in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 6.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,465,000 shares of the utilities provider's stock worth $19,704,000 after purchasing an additional 90,000 shares during the last quarter. Renaissance Technologies LLC grew its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider's stock worth $19,556,000 after purchasing an additional 108,500 shares in the last quarter. Citigroup Inc. grew its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4,931.7% in the 3rd quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider's stock worth $20,119,000 after purchasing an additional 1,192,198 shares in the last quarter. Finally, Quilter Plc increased 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 during the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on SBS. The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo - SABESP to a "strong-buy" rating in a report on Sunday, October 6th. StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th.

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

Shares of SBS stock traded down $0.21 during trading hours on Friday, hitting $14.75. 625,390 shares of the company were exchanged, compared to its average volume of 894,231. 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 market capitalization of $10.08 billion, a price-to-earnings ratio of 5.81 and a beta of 1.14. The firm has a fifty day simple moving average of $16.00 and a 200 day simple moving average of $15.89. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a 52-week low of $13.10 and a 52-week high of $18.36.

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.