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

Key Points

• The stock of Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) reached a new 52-week high, trading at $23.44 after a previous close of $23.11.
• Analysts have given SBS an average rating of "Strong Buy," with Zacks Research recently upgrading its rating while another firm downgraded it to "hold."
• Institutional investors have been increasing their stakes in SBS, indicating growing confidence in the stock, with notable increases from firms like GAMMA Investing LLC and Blue Trust Inc.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $23.47 and last traded at $23.44, with a volume of 188882 shares changing hands. The stock had previously closed at $23.11.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SBS shares. 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. Wall Street Zen cut Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 1.5%

The firm has a 50 day simple moving average of $21.01 and a 200 day simple moving average of $19.79. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $16.04 billion, a PE ratio of 8.12 and a beta of 0.86.

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

Several institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.1% during the 2nd quarter. Blue Trust Inc. now owns 26,468 shares of the utilities provider's stock valued at $582,000 after purchasing an additional 543 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider's stock valued at $41,000 after buying an additional 552 shares during the period. First Affirmative Financial Network lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.3% during the 1st quarter. First Affirmative Financial Network now owns 17,932 shares of the utilities provider's stock valued at $320,000 after buying an additional 565 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.4% during the 2nd quarter. Yousif Capital Management LLC now owns 11,115 shares of the utilities provider's stock valued at $244,000 after buying an additional 565 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,837 shares of the utilities provider's stock valued at $282,000 after buying an additional 616 shares during the period. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

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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