Impax Asset Management Group plc Lowers Position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

Impax Asset Management Group plc lowered its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 10.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,037,496 shares of the utilities provider's stock after selling 1,587,780 shares during the quarter. Impax Asset Management Group plc owned approximately 2.05% of Companhia de Saneamento Básico do Estado de São Paulo - SABESP worth $231,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 3.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,973 shares of the utilities provider's stock valued at $347,000 after buying an additional 770 shares during the period. QRG Capital Management Inc. lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 7.2% in the 1st quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider's stock worth $196,000 after purchasing an additional 780 shares during the period. Bleakley Financial Group LLC grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,537 shares of the utilities provider's stock worth $340,000 after acquiring an additional 956 shares during the period. First Affirmative Financial Network grew its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 10.6% during the second 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, Sequoia Financial Advisors LLC increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 9.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 14,832 shares of the utilities provider's stock valued at $250,000 after acquiring an additional 1,319 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBS has been the topic of several recent research 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 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 report on Sunday, October 6th.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Trading Up 1.1 %

Shares of NYSE:SBS traded up $0.17 during midday trading on Tuesday, hitting $15.90. 934,601 shares of the stock traded hands, compared to its average volume of 1,064,951. The business's 50 day moving average is $16.55 and its two-hundred day moving average is $15.76. The stock has a market capitalization of $10.87 billion, a PE ratio of 13.47 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.61. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a one year low of $12.11 and a one year high of $18.36.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo - SABESP had a net margin of 15.00% and a return on equity of 13.34%. The company had revenue of $1.30 billion during the quarter. As a group, research analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo - SABESP will post 1.13 earnings per share for the current year.

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