Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Sets New 52-Week High - Here's Why

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.14 and last traded at $21.06, with a volume of 699930 shares trading hands. The stock had previously closed at $20.66.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Stock Down 3.1%

The firm's fifty day moving average price is $19.30 and its 200-day moving average price is $17.10. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 8.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $7.67 billion. Companhia de Saneamento Básico do Estado de São Paulo - SABESP had a return on equity of 27.73% and a net margin of 25.62%. Sell-side analysts expect that Companhia de Saneamento Básico do Estado de São Paulo - SABESP will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quilter Plc increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4.3% during the fourth quarter. Quilter Plc now owns 1,044,718 shares of the utilities provider's stock worth $14,971,000 after buying an additional 43,436 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the fourth quarter worth $26,000. Blue Trust Inc. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 82.7% during the fourth quarter. Blue Trust Inc. now owns 39,008 shares of the utilities provider's stock worth $559,000 after buying an additional 17,662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 10.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,137 shares of the utilities provider's stock worth $333,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Amundi grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 6.7% in the fourth quarter. Amundi now owns 6,752,801 shares of the utilities provider's stock worth $96,732,000 after purchasing an additional 426,669 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Básico do Estado de São 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.