Citigroup Inc. Boosts Position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Citigroup Inc. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 4,931.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,216,372 shares of the utilities provider’s stock after buying an additional 1,192,198 shares during the quarter. Citigroup Inc.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $20,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter valued at about $45,000. Advisors Asset Management Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the third quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 911 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter worth approximately $95,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 3,324 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter valued at approximately $166,000. Institutional investors and hedge funds own 10.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SBS shares. The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research report on Sunday, October 6th. StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th.

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

Shares of NYSE SBS opened at $17.10 on Wednesday. The company has a 50-day simple moving average of $16.39 and a 200-day simple moving average of $15.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13. The company has a market cap of $11.69 billion, a PE ratio of 6.72 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $13.10 and a 12 month high of $18.36.

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.