Banco BTG Pactual S.A. Takes Position 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. bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 comprises 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 about 0.16% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Qtron Investments LLC raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 165.9% in the first quarter. Qtron Investments LLC now owns 26,601 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 16,595 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% in the first quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider's stock valued at $25,838,000 after purchasing an additional 69,612 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% in the first quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 1,394 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 159.8% in the first quarter. American Century Companies Inc. now owns 1,280,088 shares of the utilities provider's stock valued at $22,862,000 after purchasing an additional 787,399 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter valued at about $510,000. Hedge funds and other institutional investors own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Performance

SBS stock traded up $0.6240 during mid-day trading on Friday, hitting $21.9540. The company had a trading volume of 830,363 shares, compared to its average volume of 1,314,117. The firm has a market cap of $15.01 billion, a PE ratio of 7.60 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12 month low of $13.87 and a 12 month high of $22.88. The stock's fifty day moving average price is $20.64 and its two-hundred day moving average price is $19.32.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded 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 equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp presently 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.