Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Position Increased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,537 shares of the utilities provider’s stock after buying an additional 956 shares during the quarter. Bleakley Financial Group LLC’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $340,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. 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 1st quarter. Jane Street Group LLC now owns 332,201 shares of the utilities provider’s stock valued at $5,591,000 after purchasing an additional 187,706 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 483.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 226,173 shares of the utilities provider’s stock valued at $3,042,000 after purchasing an additional 187,390 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,453,995 shares of the utilities provider’s stock valued at $19,556,000 after purchasing an additional 108,500 shares during the period. Verde Servicos Internacionais S.A. acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter valued at about $1,569,000. Finally, Significant Wealth Partners LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 690.4% in the 1st quarter. Significant Wealth Partners LLC now owns 103,463 shares of the utilities provider’s stock valued at $1,741,000 after purchasing an additional 90,373 shares during the period. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Down 1.1 %

NYSE:SBS opened at $16.02 on Wednesday. The stock’s 50 day moving average price is $16.93 and its 200 day moving average price is $15.77. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52 week low of $11.46 and a 52 week high of $18.36. The company has a market capitalization of $10.95 billion, a P/E ratio of 13.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.35 and a current ratio of 1.36.

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 EPS 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 return on equity of 13.34% and a net margin of 15.00%. The firm had revenue of $1.30 billion for the quarter. On average, research analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities 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 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 report on Thursday, September 12th.

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.