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

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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 1.0 %

NYSE SBS opened at $15.87 on Tuesday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $8.99 and a 12 month high of $17.14. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $10.85 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The business’s 50-day moving average price is $15.98 and its two-hundred day moving average price is $14.91.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, April 29th will be paid a $0.2808 dividend. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio is currently 26.74%.

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

A number of hedge funds have recently bought and sold shares of SBS. Goldman Sachs Group Inc. grew its holdings 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 worth $49,607,000 after acquiring an additional 1,034,319 shares during the period. Banco BTG Pactual S.A. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% in the fourth quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock valued at $13,929,000 after buying an additional 792,276 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth approximately $2,967,000. Kapitalo Investimentos Ltda grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 35.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 859,217 shares of the utilities provider’s stock worth $13,086,000 after buying an additional 225,214 shares during the period. Finally, FMR LLC lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 274.8% during the 3rd quarter. FMR LLC now owns 263,645 shares of the utilities provider’s stock valued at $3,195,000 after acquiring an additional 193,300 shares during the period. 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.