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

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 506.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 923,414 shares of the utilities provider's stock after purchasing an additional 771,128 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Companhia de Saneamento Básico do Estado de São Paulo - SABESP worth $15,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the 3rd quarter valued at about $45,000. Summit Securities Group LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the second quarter valued at approximately $95,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 55.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider's stock worth $125,000 after purchasing an additional 3,324 shares during the last quarter. First Affirmative Financial Network grew its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 10.6% in the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider's stock worth $150,000 after purchasing an additional 1,069 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the 2nd quarter valued at $155,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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

Shares of NYSE SBS traded down $0.45 during midday trading on Thursday, reaching $16.66. The stock had a trading volume of 1,148,747 shares, compared to its average volume of 1,057,102. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 6.56 and a beta of 1.16. 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. The stock has a 50-day moving average of $16.41 and a 200-day moving average of $15.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.35 and a current ratio of 1.14.

About Companhia de Saneamento Básico do Estado de São Paulo - SABESP

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.