Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research report report published on Thursday morning.

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

Shares of SBS stock opened at $16.91 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14. The company has a market capitalization of $11.56 billion, a P/E ratio of 6.66 and a beta of 1.14. The company’s 50 day moving average price is $15.08 and its two-hundred day moving average price is $16.07. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52 week low of $13.10 and a 52 week high of $18.36.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter valued at approximately $45,000. J.Safra Asset Management Corp acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth $54,000. Advisors Asset Management Inc. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% during the third quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock worth $60,000 after buying an additional 911 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth $66,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.