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

StockNews.com lowered 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 report released on Friday morning.

Separately, The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note on Sunday, October 6th.

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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $14.41 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $13.10 and a 52-week high of $18.36. The firm has a market cap of $9.85 billion, a PE ratio of 5.67 and a beta of 1.14. The company’s 50 day moving average is $15.65 and its two-hundred day moving average is $15.89.

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

Institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System boosted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 1.1% during the 2nd quarter. Maryland State Retirement & Pension System now owns 415,460 shares of the utilities provider’s stock worth $5,588,000 after acquiring an additional 4,629 shares in the last quarter. Rhumbline Advisers lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.0% in the second quarter. Rhumbline Advisers now owns 95,903 shares of the utilities provider’s stock valued at $1,290,000 after acquiring an additional 6,233 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.2% in the second quarter. Acadian Asset Management LLC now owns 29,706 shares of the utilities provider’s stock valued at $399,000 after acquiring an additional 1,728 shares in the last quarter. Custom Index Systems LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter worth about $280,000. Finally, Trium Capital LLP increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 24.8% during the second quarter. Trium Capital LLP now owns 67,830 shares of the utilities provider’s stock worth $912,000 after purchasing an additional 13,490 shares in the last quarter. 10.62% of the stock is owned by hedge funds and other institutional investors.

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.