Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 22.7% in the third quarter, Holdings Channel reports. The fund owned 174,958 shares of the utilities provider’s stock after selling 51,269 shares during the period. Wellington Management Group LLP’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $2,894,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SBS. Daiwa Securities Group Inc. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 63.4% in the third quarter. Daiwa Securities Group Inc. now owns 92,800 shares of the utilities provider’s stock valued at $1,535,000 after purchasing an additional 36,000 shares during the last quarter. Citigroup Inc. increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4,931.7% in the 3rd quarter. Citigroup Inc. now owns 1,216,372 shares of the utilities provider’s stock worth $20,119,000 after acquiring an additional 1,192,198 shares during the last quarter. Pitcairn Co. purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth $1,016,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter valued at about $966,000. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.4% in the third quarter. Sequoia Financial Advisors LLC now owns 16,709 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 1,980 shares during the period. 10.62% of the stock is owned by hedge funds and other institutional investors.

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

NYSE SBS opened at $14.72 on Wednesday. The stock has a fifty day simple moving average of $15.97 and a 200-day simple moving average of $15.89. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a market cap of $10.06 billion, a PE ratio of 5.80 and a beta of 1.14. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a twelve month low of $13.10 and a twelve month high of $18.36.

Analyst Upgrades and Downgrades

SBS has been the topic of a number of analyst reports. StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th.

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.