Banque Pictet & Cie SA Buys New Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Banque Pictet & Cie SA initiated a position in Sabesp during the third quarter, purchasing 784,431 shares valued at approximately $4.17 million. Institutional investors collectively own 10.62% of the company.
• Sabesp’s stock opened at $6.27, with a 12-month range of $4.45 to $7.16. The company reported quarterly EPS of $0.07, below the $0.09 consensus estimate, while revenue of $1.16 billion also missed expectations.
• Analyst sentiment remains a “Moderate Buy”, with two Buy ratings and one Hold rating and an average price target of $183, although several firms recently downgraded their ratings.

Banque Pictet & Cie SA bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 784,431 shares of the utilities provider's stock, valued at approximately $4,165,000.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 430.6% during the 2nd quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider's stock valued at $48,000 after buying an additional 6,769 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 2nd quarter valued at $61,000. Rehmann Capital Advisory Group purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter worth $67,000. Plan A Wealth LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter worth $68,000. Finally, Greenspring Advisors LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter worth $74,000. Institutional investors own 10.62% of the company's stock.

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

SBS opened at $6.27 on Friday. The company's 50 day moving average is $5.32 and its 200 day moving average is $32.16. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 4.79 and a beta of 0.67. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12-month low of $4.45 and a 12-month high of $7.16.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last announced its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 23.93% and a return on equity of 14.03%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.23 billion. On average, equities research analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.38 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on SBS. Zacks Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen cut Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Weiss Ratings downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company Profile

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, is a Brazilian water and wastewater services company headquartered in São Paulo. Its principal activities include the collection, treatment and distribution of drinking water, as well as the collection, treatment and disposal of sewage.

Sabesp supplies residential, commercial, industrial and public-sector customers. The company also operates and maintains water-production, distribution and wastewater-treatment infrastructure, and provides related services such as connections, metering and customer support.

Established in 1973, Sabesp has historically served hundreds of municipalities in the state of São Paulo, including the São Paulo metropolitan region, and has been one of Brazil's largest sanitation companies by population served.

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