Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Shares of NYSE:SBS opened at $15.63 on Tuesday. 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 capitalization of $10.68 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 0.85 and a beta of 1.23. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $8.75 and a 12 month high of $17.14. The firm’s 50-day moving average is $16.00 and its 200 day moving average is $14.88.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, July 5th. Investors of record on Monday, April 29th will be paid a dividend of $0.2808 per share. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio (DPR) is currently 52.33%.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of large investors have recently bought and sold shares of SBS. Pingora Partners LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth $30,000. Blue Trust Inc. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% in the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after buying an additional 2,042 shares during the period. Van ECK Associates Corp lifted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock valued at $96,000 after buying an additional 921 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at about $130,000. Finally, PNC Financial Services Group Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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.