Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research report released on Tuesday.

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

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $18.03 on Tuesday. The stock’s 50-day simple moving average is $14.93 and its 200 day simple moving average is $15.45. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $11.01 and a 52-week high of $18.09. The stock has a market capitalization of $12.32 billion, a P/E ratio of 17.01 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.21 and a current ratio of 1.23.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% in the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock worth $196,000 after purchasing an additional 780 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 1,069 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.8% in the first quarter. Sequoia Financial Advisors LLC now owns 14,832 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 1,319 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 53,214 shares of the utilities provider’s stock worth $896,000 after purchasing an additional 1,702 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of 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 worth $399,000 after purchasing an additional 1,728 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors.

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.