Cerity Partners LLC Invests $288,000 in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS)

Key Points

• Cerity Partners LLC has made a new investment of $288,000 in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp (NYSE:SBS), purchasing 16,115 shares.
• Multiple hedge funds have increased their stakes in Sabesp, with Deutsche Bank AG raising its position by 55.1% during the last fourth quarter.
• Sabesp's stock is currently trading at $19.12, having reported a miss in earnings with $0.37 per share against the expected $0.38.

Cerity Partners LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,115 shares of the utilities provider's stock, valued at approximately $288,000.

Other institutional investors have also recently bought and sold shares of the company. First Affirmative Financial Network increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.3% in the 1st quarter. First Affirmative Financial Network now owns 17,932 shares of the utilities provider's stock worth $320,000 after purchasing an additional 565 shares during the last quarter. Ameriprise Financial Inc. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.7% in the 4th quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider's stock worth $422,000 after purchasing an additional 776 shares during the last quarter. Quadrant Capital Group LLC increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 7.9% in the 4th quarter. Quadrant Capital Group LLC now owns 12,964 shares of the utilities provider's stock worth $186,000 after purchasing an additional 950 shares during the last quarter. Quantinno Capital Management LP increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 9.3% in the 4th quarter. Quantinno Capital Management LP now owns 14,573 shares of the utilities provider's stock worth $209,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 7.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 19,429 shares of the utilities provider's stock worth $278,000 after purchasing an additional 1,289 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered 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.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 1.5%

Shares of SBS traded down $0.29 during trading hours on Thursday, hitting $19.23. 292,074 shares of the company were exchanged, compared to its average volume of 1,026,736. The company has a market cap of $13.15 billion, a PE ratio of 7.18 and a beta of 0.73. The firm's 50 day moving average is $20.58 and its 200-day moving average is $18.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $13.87 and a 52 week high of $22.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 0.89.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 29.18% and a net margin of 28.70%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $7.67 billion. On average, equities research analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 EPS for the current fiscal year.

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.