Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up to $13.27

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) shares gapped up prior to trading on Friday . The stock had previously closed at $13.27, but opened at $13.72. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $13.72, with a volume of 111,506 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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 Performance

The stock has a 50-day simple moving average of $14.90 and a 200-day simple moving average of $15.37. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.68 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 results on Friday, March 22nd. The utilities provider reported $0.35 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 business had revenue of $1.47 billion during the quarter. On average, analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 earnings per share for the current year.

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

The business also recently announced an annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.2808 per share. The ex-dividend date is Friday, April 26th. 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%. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio is 21.70%.

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

Several hedge funds have recently made changes to their positions in the stock. Pingora Partners LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter worth $30,000. Blue Trust Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% during the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after buying an additional 2,042 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after buying an additional 857 shares during the last quarter. QRG Capital Management Inc. bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth $125,000. Finally, SG Americas Securities LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter worth $130,000. 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.