Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. has increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) by 50.6%, owning approximately 2.47 million shares worth $44.17 million.
• Other institutional investors have also made significant purchases in SBS, with over 10.62% of the company's stock owned by institutional investors.
• Recently, Wall Street Zen downgraded SBS from a "buy" rating to a "hold" rating, indicating a change in market sentiment towards the stock.

Citigroup Inc. raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 50.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,473,310 shares of the utilities provider's stock after acquiring an additional 830,937 shares during the period. Citigroup Inc. owned approximately 0.36% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $44,173,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBS. Banque Cantonale Vaudoise acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter valued at about $44,000. Headlands Technologies LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter valued at about $54,000. Farther Finance Advisors LLC raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% in 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 acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter valued at about $141,000. Finally, Anchor Pointe Wealth Management LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter valued at about $144,000. Institutional investors and hedge funds own 10.62% of the company's stock.

Analyst Ratings Changes

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.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 0.3%

Shares of NYSE SBS traded down $0.08 during midday trading on Friday, reaching $21.63. 131,181 shares of the stock were exchanged, compared to its average volume of 1,048,947. The company has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $19.09. The stock has a market capitalization of $14.78 billion, a P/E ratio of 7.49 and a beta of 0.70. 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 has a twelve month low of $13.87 and a twelve month high of $22.88.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $7.67 billion. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 29.77% and a net margin of 29.64%. As a group, equities analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current 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.