Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sets New 12-Month High - Still a Buy?

Key Points

• Shares of Sabesp recently hit a new 52-week high of $25.07, with the latest trading price at $24.65.
• Zacks Research upgraded the company from a "hold" rating to a "strong-buy" rating, indicating increased investor confidence.
• Institutional investors have been actively adjusting their positions, with GAMMA Investing LLC increasing its stake by an impressive 3,664% in the first quarter.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.07 and last traded at $24.65, with a volume of 27280 shares trading hands. The stock had previously closed at $24.89.

Wall Street Analyst Weigh In

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, According to MarketBeat, the company currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 1.7%

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 business has a 50 day moving average price of $22.06 and a 200 day moving average price of $20.56. The firm has a market capitalization of $16.72 billion, a P/E ratio of 8.46 and a beta of 0.86.

Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth about $803,000. GAMMA Investing LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% during the first quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock worth $413,000 after buying an additional 22,497 shares in the last quarter. Northern Trust Corp grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% during the first quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider's stock worth $25,838,000 after buying an additional 69,612 shares in the last quarter. Compound Planning Inc. acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth about $222,000. Finally, Two Sigma Investments LP acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter worth about $1,024,000. 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 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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