Sequoia Financial Advisors LLC Raises Position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Sequoia Financial Advisors LLC raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 13.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,709 shares of the utilities provider’s stock after purchasing an additional 1,980 shares during the period. Sequoia Financial Advisors LLC’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $276,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,465,000 shares of the utilities provider’s stock valued at $19,704,000 after purchasing an additional 90,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% in the second 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. Quilter Plc increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.2% in the second 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. Maryland State Retirement & Pension System increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 1.1% in the second quarter. Maryland State Retirement & Pension System now owns 415,460 shares of the utilities provider’s stock worth $5,588,000 after buying an additional 4,629 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 129.9% in the first quarter. Jane Street Group LLC now owns 332,201 shares of the utilities provider’s stock worth $5,591,000 after buying an additional 187,706 shares during the period. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 0.4 %

NYSE SBS opened at $16.06 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 1.35. The stock has a market capitalization of $10.98 billion, a PE ratio of 13.61 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1 year low of $11.46 and a 1 year high of $18.36. The business’s 50-day moving average is $16.76 and its 200 day moving average is $15.75.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $1.30 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.34% and a net margin of 15.00%. Sell-side analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on SBS. StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th.

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.