Deutsche Bank AG Sells 70,337 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS)

Key Points

• Deutsche Bank AG reduced its stake in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.1%, owning approximately 6,163,899 shares worth $110 million.
• Comprehensive hedge fund activity shows that Jane Street Group LLC increased its holdings by 150.4%, while GAMMA Investing LLC saw a significant rise of 3,664.0% in its stake during the latest quarter.
• After reporting quarterly earnings, Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp's stock saw a 0.3% decline, with the latest earnings per share falling short of analysts' expectations.

Deutsche Bank AG cut its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,163,899 shares of the utilities provider's stock after selling 70,337 shares during the period. Deutsche Bank AG owned 0.90% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $110,087,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at about $396,000. PNC Financial Services Group Inc. grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 8.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,409 shares of the utilities provider's stock worth $311,000 after acquiring an additional 1,418 shares during the last quarter. US Bancorp DE increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 27.6% in the 1st quarter. US Bancorp DE now owns 17,469 shares of the utilities provider's stock worth $312,000 after purchasing an additional 3,775 shares during the period. Banque Cantonale Vaudoise bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter valued at approximately $44,000. Finally, Assetmark Inc. boosted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.2% during the first quarter. Assetmark Inc. now owns 726,980 shares of the utilities provider's stock valued at $12,984,000 after purchasing an additional 8,821 shares during the period. 10.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 research report on Tuesday, May 20th.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 2.0%

Shares of NYSE:SBS traded down $0.46 on Thursday, hitting $21.88. 567,674 shares of the company traded hands, compared to its average volume of 1,050,292. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $20.52 and a 200-day simple moving average of $19.05. The company has a market cap of $14.95 billion, a PE ratio of 7.56 and a beta of 0.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $13.87 and a 52 week high of $22.88.

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 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 29.77% and a net margin of 29.64%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $7.67 billion. As a group, research analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current year.

About Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

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.