Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Given Buy (B) Rating at Weiss Ratings

Key Points

• Sabesp has been given a "buy (B)" rating by Weiss Ratings, reiterating confidence in the company's stock performance.
• Additionally, Zacks Research upgraded Sabesp from "hold" to "strong-buy," indicating growing optimism among analysts regarding its future.
• The company's stock is currently trading at $23.27 with a market cap of $15.90 billion, having a twelve-month high of $25.07 and low of $13.87.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report)'s stock had its "buy (b)" rating restated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Performance

SBS traded down $0.06 on Wednesday, hitting $23.27. 190,588 shares of the company's stock were exchanged, compared to its average volume of 1,046,905. The firm has a market cap of $15.90 billion, a PE ratio of 8.05 and a beta of 0.86. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a twelve month low of $13.87 and a twelve month high of $25.07. The stock has a fifty day moving average of $22.51 and a two-hundred day moving average of $20.77. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider's stock worth $41,000 after buying an additional 552 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% during the first quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after buying an additional 1,394 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 246.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider's stock worth $51,000 after buying an additional 1,666 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth approximately $44,000. Finally, Parallel Advisors LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 88.2% during the second quarter. Parallel Advisors LLC now owns 2,885 shares of the utilities provider's stock worth $63,000 after buying an additional 1,352 shares in the last quarter. Institutional investors and hedge funds own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company Profile

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.

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