Nordea Investment Management AB Sells 86,330 Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Nordea Investment Management AB lessened its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 46.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 97,617 shares of the utilities provider’s stock after selling 86,330 shares during the period. Nordea Investment Management AB’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $1,402,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SBS. Allspring Global Investments Holdings LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter worth $45,000. Advisors Asset Management Inc. increased its stake in 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 worth $60,000 after buying an additional 911 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after buying an additional 3,324 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 2nd quarter worth $155,000. Finally, Inspire Advisors LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter worth $166,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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

NYSE:SBS opened at $14.35 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $9.81 billion, a P/E ratio of 5.65 and a beta of 1.13. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $13.10 and a 12 month high of $18.36. The business’s 50-day moving average is $15.33 and its 200 day moving average is $15.93.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SBS shares. The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research report on Sunday, October 6th. StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Friday, December 27th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP 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.