Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research note issued to investors on Monday.

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

NYSE:SBS opened at $16.04 on Monday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a one year low of $8.75 and a one year high of $17.14. The company has a market cap of $10.96 billion, a P/E ratio of 18.65, a P/E/G ratio of 0.85 and a beta of 1.23. The firm’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $14.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 0.99.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, April 29th will be issued a $0.2808 dividend. This is an increase from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s payout ratio is currently 26.74%.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several institutional investors and hedge funds have recently modified their holdings of SBS. Goldman Sachs Group Inc. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock valued at $49,607,000 after purchasing an additional 1,034,319 shares during the last quarter. Banco BTG Pactual S.A. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% in the fourth quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock valued at $13,929,000 after purchasing an additional 792,276 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter valued at $2,967,000. Kapitalo Investimentos Ltda grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 35.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 859,217 shares of the utilities provider’s stock valued at $13,086,000 after acquiring an additional 225,214 shares in the last quarter. Finally, FMR LLC increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 274.8% during the third quarter. FMR LLC now owns 263,645 shares of the utilities provider’s stock worth $3,195,000 after acquiring an additional 193,300 shares during the period. 10.62% of the stock is currently owned by institutional investors and hedge funds.

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