11,058 Shares in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC acquired 11,058 shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp, valued at approximately $243,000, indicating growing institutional interest in the company.
• Several hedge funds, including Northern Trust Corp and Perpetual Ltd, have boosted their holdings in Sabesp, reflecting positive investor sentiment.
• Analysts have a consensus rating of "Strong Buy" for Sabesp, with recent upgrades from Zacks Research and Weiss Ratings contributing to a favorable outlook.

Janney Montgomery Scott LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,058 shares of the utilities provider's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% during the 1st 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 during the period. Compound Planning Inc. bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth about $222,000. Perpetual Ltd boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 12.3% during the 1st quarter. Perpetual Ltd now owns 790,709 shares of the utilities provider's stock worth $14,122,000 after buying an additional 86,745 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 12.2% during the 1st quarter. QRG Capital Management Inc. now owns 14,452 shares of the utilities provider's stock worth $258,000 after buying an additional 1,568 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth about $3,536,000. Institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

SBS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Wednesday, October 8th. Zacks Research raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on 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 Price Performance

Shares of NYSE:SBS opened at $24.28 on Tuesday. The firm has a 50 day moving average of $23.11 and a 200-day moving average of $21.13. The stock has a market capitalization of $16.60 billion, a PE ratio of 8.40 and a beta of 0.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12 month low of $13.87 and a 12 month high of $25.07.

About Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

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.

Want to see what other hedge funds are holding SBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.