Point72 Asset Management L.P. Raises Stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

Point72 Asset Management L.P. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 334.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,658 shares of the utilities provider's stock after buying an additional 110,558 shares during the quarter. Point72 Asset Management L.P.'s holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP were worth $2,376,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SBS. Robeco Institutional Asset Management B.V. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 34.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,506,844 shares of the utilities provider's stock worth $24,923,000 after acquiring an additional 389,063 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 6.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,465,000 shares of the utilities provider's stock worth $19,704,000 after acquiring an additional 90,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider's stock worth $19,556,000 after purchasing an additional 108,500 shares in the last quarter. Citigroup Inc. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4,931.7% in the third quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider's stock valued at $20,119,000 after buying an additional 1,192,198 shares in the last quarter. Finally, Quilter Plc increased its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 2.2% in the 2nd quarter. Quilter Plc now owns 979,750 shares of the utilities provider's stock valued at $13,178,000 after purchasing an additional 20,759 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

SBS has been the topic of several research reports. StockNews.com cut 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 upgraded shares of 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 Trading Up 1.0 %

NYSE SBS traded up $0.15 during mid-day trading on Tuesday, reaching $15.11. 336,289 shares of the stock were exchanged, compared to its average volume of 1,047,897. The stock has a market capitalization of $10.33 billion, a PE ratio of 5.98 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14. 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 business's fifty day simple moving average is $16.11 and its 200 day simple moving average is $15.87.

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.