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

Key Points

• Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp (NYSE:SBS) reached a new 52-week high of $24.06, closing last at $24.00 with a trading volume of 867,317 shares.
• Zacks Research upgraded the stock from a "hold" rating to a "strong-buy," while Wall Street Zen downgraded it from "buy" to "hold," reflecting a mixed outlook among analysts.
• Institutional investors have shown significant interest, with Jane Street Group LLC increasing its stake by 150.4%, now owning 33,876 shares valued at $485,000.

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $24.06 and last traded at $24.00, with a volume of 867317 shares. The stock had previously closed at $23.87.

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 note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp presently has a consensus rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 0.8%

The stock has a 50-day moving average of $21.35 and a 200-day moving average of $20.09. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The company has a market cap of $16.80 billion, a PE ratio of 8.51 and a beta of 0.86.

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

Several large investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $29,142,000. Banco BTG Pactual S.A. bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $20,094,000. Bank of America Corp DE boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 54.9% in the 2nd quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider's stock worth $69,251,000 after purchasing an additional 1,116,681 shares in the last quarter. Citigroup Inc. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 50.6% in the 1st quarter. Citigroup Inc. now owns 2,473,310 shares of the utilities provider's stock worth $44,173,000 after purchasing an additional 830,937 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 159.8% in the 1st quarter. American Century Companies Inc. now owns 1,280,088 shares of the utilities provider's stock worth $22,862,000 after purchasing an additional 787,399 shares in the last quarter. 10.62% of the stock is owned by 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.