Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Downgraded to “Hold” Rating by StockNews.com

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

Separately, The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th.

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

SBS opened at $14.41 on Friday. 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 stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 5.67 and a beta of 1.14. The company has a fifty day moving average of $15.68 and a 200 day moving average of $15.87. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $13.10 and a fifty-two week high of $18.36.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter valued at $45,000. Advisors Asset Management Inc. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 911 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 3,324 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter worth about $155,000. Finally, Inspire Advisors LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter worth approximately $166,000. 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.