Itau Unibanco Holding S.A. Acquires 222,724 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Itau Unibanco Holding S.A. increased its stake in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp by 62.4% during the first quarter, owning approximately $10 million worth of shares.
• Other notable institutional investors, such as Deutsche Bank AG and Citigroup Inc., also significantly increased their holdings, with Deutsche Bank boosting its stake by 55.1%.
• Despite a consensus rating of "Strong Buy", Wall Street Zen downgraded Sabesp from a "buy" to a "hold" rating, indicating mixed sentiment among analysts regarding the stock's future.

Itau Unibanco Holding S.A. increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 62.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 579,489 shares of the utilities provider's stock after purchasing an additional 222,724 shares during the quarter. Itau Unibanco Holding S.A. owned approximately 0.08% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $10,073,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBS. Jane Street Group LLC increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% in the 4th quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock worth $485,000 after acquiring an additional 20,349 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $803,000. GAMMA Investing LLC increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% in the 1st quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock worth $413,000 after acquiring an additional 22,497 shares during the last quarter. Cetera Investment Advisers bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter worth approximately $218,000. Finally, Two Sigma Investments LP bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter worth approximately $1,024,000. Hedge funds and other institutional investors own 10.62% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 0.8%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock traded up $0.18 on Monday, reaching $22.60. The company had a trading volume of 967,543 shares, compared to its average volume of 1,106,838. The firm has a market cap of $15.45 billion, a price-to-earnings ratio of 7.82 and a beta of 0.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. The firm's 50-day moving average price is $20.76 and its two-hundred day moving average price is $19.52. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1 year low of $13.87 and a 1 year high of $22.88.

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.