Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Stock Rating Upgraded by StockNews.com

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

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 report on Sunday, October 6th.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Trading Down 5.6 %

Shares of NYSE SBS traded down $0.82 during trading on Wednesday, hitting $13.90. 1,273,621 shares of the company were exchanged, compared to its average volume of 1,048,322. The company has a fifty day moving average price of $15.94 and a 200-day moving average price of $15.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14. The firm has a market capitalization of $9.50 billion, a PE ratio of 5.47 and a beta of 1.14. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a 12-month low of $13.10 and a 12-month high of $18.36.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBS. Allspring Global Investments Holdings LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the 3rd quarter worth $45,000. Advisors Asset Management Inc. lifted its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 33.7% in the third quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider's stock valued at $60,000 after buying an additional 911 shares during the last quarter. Summit Securities Group LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the second quarter worth about $95,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 55.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider's stock valued at $125,000 after acquiring an additional 3,324 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 3rd quarter valued at approximately $166,000. Institutional investors and hedge funds 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.

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