Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) gapped up before the market opened on Monday . The stock had previously closed at $10.31, but opened at $10.61. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $10.81, with a volume of 2,401,820 shares changing hands.

Several brokerages have recently issued reports on SBS. Scotiabank upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from an “underperform” rating to a “sector perform” rating in a report on Monday. Zacks Investment Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Janney Montgomery Scott upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “neutral” rating to a “buy” rating in a report on Wednesday, August 16th. ValuEngine lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Finally, Citigroup Inc. lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “neutral” rating to a “sell” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold”.

The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 9.31 and a beta of 1.81. The stock’s 50 day moving average is $10.44 and its 200 day moving average is $10.01.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 0.9% during the 2nd quarter. Raymond James Trust N.A. now owns 10,474 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 91 shares during the last quarter. Global X Management Co. LLC lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1.9% during the 1st quarter. Global X Management Co. LLC now owns 12,528 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 237 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 17,462 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 440 shares during the last quarter. Comerica Bank lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1.4% during the 1st quarter. Comerica Bank now owns 41,064 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 565 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 0.7% during the 1st quarter. Alliancebernstein L.P. now owns 158,238 shares of the utilities provider’s stock worth $1,647,000 after purchasing an additional 1,062 shares during the last quarter. 15.86% of the stock is owned by institutional investors.

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About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a water and sewage service provider. The Company provides water and sewage services to a range of residential, commercial, industrial and governmental customers in over 360 municipalities in the state of Sao Paulo, including the city of Sao Paulo.

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