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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) announced an annual dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Monday, April 29th will be paid 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 of this dividend 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 dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Down 1.6 %

Shares of NYSE SBS opened at $15.49 on Friday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12-month low of $8.75 and a 12-month high of $17.14. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. The firm has a market cap of $10.59 billion, a PE ratio of 18.01, a P/E/G ratio of 0.83 and a beta of 1.23. The company’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $14.64.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 20.3% during the 1st quarter. BlackRock Inc. now owns 8,308,124 shares of the utilities provider’s stock worth $83,164,000 after buying an additional 1,400,875 shares during the period. First Trust Advisors LP grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 78.0% in the 1st quarter. First Trust Advisors LP now owns 4,928,061 shares of the utilities provider’s stock valued at $48,443,000 after purchasing an additional 2,158,995 shares during the period. Goldman Sachs Group Inc. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock valued at $49,607,000 after purchasing an additional 1,034,319 shares in the last quarter. Wellington Management Group LLP increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 490.4% during the 1st quarter. Wellington Management Group LLP now owns 3,089,967 shares of the utilities provider’s stock valued at $30,375,000 after purchasing an additional 2,566,633 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3,529.5% during the fourth quarter. Millennium Management LLC now owns 1,758,404 shares of the utilities provider’s stock worth $18,745,000 after buying an additional 1,709,957 shares during the last quarter. Institutional investors own 10.62% of the company’s stock.

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.