Daiwa Securities Group Inc. Decreases Holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Daiwa Securities Group Inc. lowered its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,800 shares of the utilities provider’s stock after selling 5,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pingora Partners LLC bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at approximately $30,000. Summit Securities Group LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter worth $95,000. First Affirmative Financial Network purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth $170,000. QRG Capital Management Inc. increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% during the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock valued at $196,000 after acquiring an additional 780 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the first quarter valued at $198,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 1.7 %

Shares of NYSE:SBS opened at $17.06 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 1.21. The business has a 50 day simple moving average of $16.50 and a two-hundred day simple moving average of $15.67. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1 year low of $11.29 and a 1 year high of $18.36. The firm has a market capitalization of $11.66 billion, a PE ratio of 16.09 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. 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%. The company had revenue of $1.30 billion for the quarter. On average, equities analysts predict that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 EPS for the current year.

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.