Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,617 shares of the utilities provider's stock after selling 86,330 shares during the period. Nordea Investment Management AB's holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP were worth $1,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the 3rd quarter valued at $733,000. Daiwa Securities Group Inc. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 63.4% during the third quarter. Daiwa Securities Group Inc. now owns 92,800 shares of the utilities provider's stock valued at $1,535,000 after purchasing an additional 36,000 shares during the period. Citigroup Inc. raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4,931.7% during the third quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider's stock valued at $20,119,000 after purchasing an additional 1,192,198 shares in the last quarter. Pitcairn Co. acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the third quarter worth about $1,016,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 3rd quarter valued at about $966,000. Institutional investors and hedge funds own 10.62% of the company's stock.

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

NYSE:SBS opened at $14.41 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business's 50-day moving average price is $15.33 and its 200 day moving average price is $15.93. 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. The firm has a market cap of $9.85 billion, a P/E ratio of 5.67 and a beta of 1.13.

Wall Street Analysts Forecast Growth

SBS has been the subject of several recent analyst reports. StockNews.com cut shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a report on Friday, December 27th. The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo - SABESP to a "strong-buy" rating in a research note on Sunday, October 6th.

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.