Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded to Buy by 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 note published on Tuesday.

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

SBS opened at $18.03 on Tuesday. The business has a fifty day moving average of $14.93 and a 200 day moving average of $15.45. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $11.01 and a 52-week high of $18.09. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.32 billion, a P/E ratio of 17.01 and a beta of 1.17.

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

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock worth $49,607,000 after buying an additional 1,034,319 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider’s stock worth $19,556,000 after buying an additional 108,500 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,375,000 shares of the utilities provider’s stock worth $20,941,000 after buying an additional 125,000 shares during the period. Quilter Plc lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% in the 2nd quarter. Quilter Plc now owns 979,750 shares of the utilities provider’s stock worth $13,178,000 after buying an additional 20,759 shares during the period. Finally, Banco BTG Pactual S.A. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% in the 4th quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock worth $13,929,000 after buying an additional 792,276 shares during the period. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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.