Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sets New 1-Year High - Here's What Happened

Key Points

• SABESP stock hit a new 52-week high, last trading around $31.81 and up about 3.8% on the day, as analysts rally behind the name.
• A number of brokerages have upgraded the company (Weiss, Zacks) and Jefferies initiated coverage with a $36.60 price target, leaving an average rating of Strong Buy.
• Management announced a special dividend of $0.4772 per share payable May 11 (record date March 27; ex-dividend March 27), which the article states represents a 55.0% yield.

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $31.44 and last traded at $31.8130, with a volume of 4796 shares trading hands. The stock had previously closed at $30.44.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBS. Weiss Ratings raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, March 17th. Jefferies Financial Group began coverage on Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Thursday, March 19th. They issued a "buy" rating and a $36.60 price objective on the stock. Finally, Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp currently has an average rating of "Strong Buy" and an average price target of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 3.8%

The business has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $26.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 6.02 and a beta of 0.75.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last posted its earnings results on Saturday, February 14th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $1.03 billion for the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 15.76% and a net margin of 23.64%. On average, equities analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current year.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Announces Dividend

The business also recently announced a special dividend, which will be paid on Monday, May 11th. Investors of record on Friday, March 27th will be issued a dividend of $0.4772 per share. This represents a yield of 55.0%. The ex-dividend date of this dividend is Friday, March 27th. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp's dividend payout ratio (DPR) is 4.57%.

Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Several hedge funds and other institutional investors have recently bought and sold shares of SBS. Manning & Napier Advisors LLC grew its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 444.8% during the third quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider's stock worth $76,892,000 after acquiring an additional 2,522,231 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter worth about $37,053,000. Bank of America Corp DE grew its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 54.9% during the second quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider's stock worth $69,251,000 after acquiring an additional 1,116,681 shares during the period. Wellington Management Group LLP acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the third quarter worth about $27,444,000. Finally, Perpetual Ltd grew its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 116.6% during the third quarter. Perpetual Ltd now owns 1,719,250 shares of the utilities provider's stock worth $42,792,000 after acquiring an additional 925,684 shares during the period. 10.62% of the stock is owned by institutional investors and hedge funds.

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

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.

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