Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Reaches New 52-Week High - Here's Why

Key Points

• Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp's stock reached a new 52-week high of $24.90 on Tuesday, trading at $24.78 with a volume of 417,786 shares.
• Zacks Research upgraded Sabesp from a "hold" rating to a "strong-buy", with two analysts currently rating the stock as a strong buy.
• Institutional investors have significantly increased their holdings in Sabesp, with notable raises by firms like Jane Street Group LLC, which boosted its stake by 150.4%.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.90 and last traded at $24.78, with a volume of 417786 shares traded. The stock had previously closed at $24.17.

Analyst Ratings Changes

Separately, Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 3.3%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $20.26. The company has a market cap of $17.06 billion, a PE ratio of 8.64 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBS. Jane Street Group LLC raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% during the fourth quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock valued at $485,000 after buying an additional 20,349 shares in the last quarter. Handelsbanken Fonder AB bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at $803,000. GAMMA Investing LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% during the 1st quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock valued at $413,000 after purchasing an additional 22,497 shares in the last quarter. Cetera Investment Advisers bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter valued at $218,000. Finally, Compound Planning Inc. bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at $222,000. 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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