Connor Clark & Lunn Investment Management Ltd. Increases Stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 506.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 923,414 shares of the utilities provider's stock after purchasing an additional 771,128 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Companhia de Saneamento Básico do Estado de São Paulo - SABESP worth $15,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBS. Sei Investments Co. purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the first quarter valued at $563,000. Russell Investments Group Ltd. raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 53,214 shares of the utilities provider's stock worth $896,000 after purchasing an additional 1,702 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the first quarter worth about $881,000. Acadian Asset Management LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the first quarter valued at approximately $470,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 1st quarter worth approximately $198,000. Institutional investors and hedge funds own 10.62% of the company's stock.

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

SBS opened at $17.11 on Thursday. The firm has a fifty day moving average price of $16.41 and a 200 day moving average price of $15.81. 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 stock has a market cap of $11.69 billion, a P/E ratio of 6.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.35.

Wall Street Analyst Weigh In

A number of research firms have recently 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 downgraded 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 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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