Banco BTG Pactual S.A. Makes New $20.09 Million Investment in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Banco BTG Pactual S.A. has acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo - Sabesp, purchasing over 1.12 million shares valued at approximately $20 million, making it the fund's third largest investment.
• In the first quarter, other institutional investors such as Brooklyn Investment Group and Farther Finance Advisors significantly increased their stakes in Sabesp, indicating growing interest in the company among large investors.
• The stock price of Sabesp has recently declined by 4.6%, now trading around $20.96, with analysts adjusting their ratings from "buy" to "hold" amidst market fluctuations.

Banco BTG Pactual S.A. acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,125,071 shares of the utilities provider's stock, valued at approximately $20,094,000. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp makes up approximately 5.0% of Banco BTG Pactual S.A.'s investment portfolio, making the stock its 3rd largest position. Banco BTG Pactual S.A. owned approximately 0.16% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% during the first quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 1,394 shares during the period. Banque Cantonale Vaudoise bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at about $44,000. Headlands Technologies LLC bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at about $54,000. Farther Finance Advisors LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% during the first 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 period. Finally, Rossby Financial LCC bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at about $141,000. 10.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, 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

SBS traded up $0.1550 during midday trading on Monday, reaching $22.1050. 222,237 shares of the company's stock were exchanged, compared to its average volume of 1,041,135. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 7.65 and a beta of 0.70. The company has a quick ratio of 1.26, a current 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 one year low of $13.87 and a one year high of $22.88. The business has a 50-day simple moving average of $20.64 and a two-hundred day simple moving average of $19.34.

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.