Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up – What’s Next?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.22, but opened at $17.69. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $17.74, with a volume of 122,787 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th.

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

The stock’s 50 day moving average is $16.57 and its two-hundred day moving average is $16.09. The stock has a market capitalization of $12.31 billion, a PE ratio of 7.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13.

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

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.7% during the fourth quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider’s stock worth $422,000 after purchasing an additional 776 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 911 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.9% in the 4th quarter. Quadrant Capital Group LLC now owns 12,964 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 950 shares during the last quarter. Rhumbline Advisers raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 0.9% during the 4th quarter. Rhumbline Advisers now owns 125,403 shares of the utilities provider’s stock worth $1,797,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.3% during the fourth quarter. Quantinno Capital Management LP now owns 14,573 shares of the utilities provider’s stock worth $209,000 after purchasing an additional 1,237 shares during the last quarter. 10.62% of the stock is owned by hedge funds and other institutional investors.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.