Verition Fund Management LLC Invests $1.28 Million in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS)

Verition Fund Management LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 77,107 shares of the utilities provider's stock, valued at approximately $1,275,000.

A number of other institutional investors also recently added to or reduced their stakes in SBS. Robeco Institutional Asset Management B.V. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 34.8% in 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 purchasing an additional 389,063 shares during the last quarter. Duff & Phelps Investment Management Co. grew 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 last quarter. Renaissance Technologies LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 8.1% during the second quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider's stock valued at $19,556,000 after acquiring an additional 108,500 shares in the last quarter. Citigroup Inc. raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4,931.7% in the 3rd 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 during the last quarter. Finally, Quilter Plc raised its position in shares of 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 during the last quarter. Institutional investors own 10.62% of the company's stock.

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

Shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP stock traded down $0.60 on Friday, reaching $14.97. 465,298 shares of the stock were exchanged, compared to its average volume of 896,454. The business has a 50 day moving average price of $16.14 and a two-hundred day moving average price of $15.86. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 5.89 and a beta of 1.14. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a twelve month low of $13.10 and a twelve month high of $18.36. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Analyst Ratings Changes

SBS has been the topic of a number of recent analyst reports. 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 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.

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.