State Street Corp Boosts Stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

State Street Corp boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,822 shares of the utilities provider’s stock after acquiring an additional 61,874 shares during the period. State Street Corp’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $7,787,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBS. Daiwa Securities Group Inc. grew its position 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 in the last quarter. Citigroup Inc. grew its holdings in 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 valued at $20,119,000 after buying an additional 1,192,198 shares in 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. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SBS shares. The Goldman Sachs Group raised shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note 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 report on Friday.

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

NYSE SBS opened at $14.41 on Friday. The stock has a market cap of $9.85 billion, a PE ratio of 5.67 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. The stock has a fifty day simple moving average of $15.68 and a 200-day simple moving average of $15.87. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

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.