Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Rating Increased to Buy at StockNews.com

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

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

Shares of SBS stock opened at $16.14 on Monday. The company’s fifty day simple moving average is $16.02 and its 200-day simple moving average is $14.71. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52 week low of $8.75 and a 52 week high of $17.14. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The company has a market cap of $11.03 billion, a PE ratio of 18.77, a P/E/G ratio of 0.82 and a beta of 1.23.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBS. Goldman Sachs Group Inc. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock worth $49,607,000 after buying an additional 1,034,319 shares during the period. Banco BTG Pactual S.A. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% during the 4th quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock worth $13,929,000 after buying an additional 792,276 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth $2,967,000. Kapitalo Investimentos Ltda increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 35.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 859,217 shares of the utilities provider’s stock worth $13,086,000 after buying an additional 225,214 shares during the period. Finally, FMR LLC increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 274.8% during the 3rd quarter. FMR LLC now owns 263,645 shares of the utilities provider’s stock worth $3,195,000 after buying an additional 193,300 shares during the period. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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.