Goldman Sachs Group Inc. Buys 1,034,319 Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Goldman Sachs Group Inc. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 46.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,257,167 shares of the utilities provider’s stock after purchasing an additional 1,034,319 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.48% of Companhia de Saneamento Básico do Estado de São Paulo – SABESP worth $49,607,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% in the third quarter. Citigroup Inc. now owns 12,973 shares of the utilities provider’s stock worth $157,000 after buying an additional 789 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 857 shares during the period. Pingora Partners LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter worth $30,000. Blue Trust Inc. boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% during the fourth quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 2,042 shares during the period. Finally, UBS Group AG grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 0.9% in the third quarter. UBS Group AG now owns 260,956 shares of the utilities provider’s stock valued at $3,163,000 after purchasing an additional 2,207 shares during the last quarter. Institutional investors own 10.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 3.3 %

SBS opened at $13.30 on Thursday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $10.76 and a 1-year high of $17.14. The business has a 50 day moving average of $14.99 and a 200-day moving average of $15.37. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.54 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.63.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last posted its quarterly earnings data on Friday, March 22nd. The utilities provider reported $0.35 earnings per share (EPS) for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 13.62% and a return on equity of 12.14%. The company had revenue of $1.47 billion for the quarter. As a group, sell-side analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.2 earnings per share for the current year.

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. Shareholders of record on Monday, April 29th will be given a $0.2808 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a dividend yield of 1.4%. This is an increase 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’s dividend payout ratio (DPR) is currently 20.75%.

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.