Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Increases Dividend to $0.28 Per Share

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) declared an annual dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Monday, April 29th will be given a dividend of 0.2808 per share by the utilities provider on Friday, July 5th. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 26th. This is a boost from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Companhia de Saneamento Básico do Estado de São Paulo – SABESP to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 22.7%.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Down 1.6 %

NYSE SBS opened at $15.49 on Friday. The company’s fifty day simple moving average is $16.02 and its 200-day simple moving average is $14.64. 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 stock has a market cap of $10.59 billion, a P/E ratio of 18.01, a PEG ratio of 0.83 and a beta of 1.23.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several institutional investors have recently added to or reduced their stakes in SBS. Raymond James & Associates raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4.3% in the first quarter. Raymond James & Associates now owns 119,987 shares of the utilities provider’s stock valued at $1,179,000 after acquiring an additional 4,920 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 21.8% during the first quarter. American Century Companies Inc. now owns 151,347 shares of the utilities provider’s stock worth $1,488,000 after purchasing an additional 27,118 shares during the period. Citigroup Inc. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 32,850.0% during the first quarter. Citigroup Inc. now owns 65,900 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 65,700 shares during the period. Bank of Montreal Can raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.0% during the first quarter. Bank of Montreal Can now owns 122,759 shares of the utilities provider’s stock worth $1,155,000 after purchasing an additional 3,628 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 15.7% during the first quarter. Great West Life Assurance Co. Can now owns 216,395 shares of the utilities provider’s stock worth $2,266,000 after purchasing an additional 29,324 shares during the period. 10.62% of the stock is owned by institutional investors and hedge funds.

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.