Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 61.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,146 shares of the utilities provider’s stock after acquiring an additional 20,683 shares during the quarter. Sei Investments Co.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter worth about $95,000. First Affirmative Financial Network purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth approximately $170,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter valued at approximately $155,000. QRG Capital Management Inc. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% in the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock worth $196,000 after acquiring an additional 780 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 1st quarter worth approximately $198,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SBS. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday. StockNews.com cut Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th.

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

SBS stock opened at $16.33 on Wednesday. The business has a 50 day moving average price of $17.01 and a 200 day moving average price of $15.80. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.61. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 15.40 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $11.46 and a fifty-two week high of $18.36.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 15.00% and a return on equity of 13.34%. The company had revenue of $1.30 billion for the quarter. Equities research analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 earnings per share for the current fiscal year.

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.