Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Companhia de Saneamento Basico Do Estado De São Paulo - Sabesp (NYSE:SBS) by 159.8%, holding approximately 1,280,088 shares valued at $22.86 million as of the end of the last quarter.
• Other significant investors, including Deutsche Bank AG and Citigroup Inc., have also boosted their stakes in SBS, indicating increased institutional interest in the firm.
• Wall Street analysts have downgraded SBS from a "buy" to a "hold" rating, though the stock still carries an average rating of "Strong Buy."

American Century Companies Inc. raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 159.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,088 shares of the utilities provider's stock after buying an additional 787,399 shares during the quarter. American Century Companies Inc. owned about 0.19% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $22,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SBS. Banque Cantonale Vaudoise bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $44,000. Headlands Technologies LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $54,000. Farther Finance Advisors LLC boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% during the 1st quarter. Farther Finance Advisors LLC now owns 3,817 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 3,571 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $141,000. Finally, Anchor Pointe Wealth Management LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter valued at approximately $144,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 1.3%

Shares of SBS stock traded up $0.30 on Thursday, hitting $22.46. The stock had a trading volume of 753,866 shares, compared to its average volume of 1,040,512. 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 business has a 50 day moving average price of $20.69 and a 200 day moving average price of $19.41. The company has a market cap of $15.35 billion, a PE ratio of 7.78 and a beta of 0.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $22.88.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded 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. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy".

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