Pinnacle Wealth Planning Services Inc. Raises Stock Position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Pinnacle Wealth Planning Services Inc. increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 182.6%, accumulating a total of 29,828 shares worth approximately $533,000 by the end of the first quarter.
• Other institutional investors, like Jane Street Group LLC and GAMMA Investing LLC, also significantly increased their holdings in the company, indicating a growing interest in the stock among major investors.
• Wall Street analysts downgraded the stock from a "buy" to a "hold" rating, while the consensus rating remains a "Strong Buy" based on aggregated analyst recommendations.

Pinnacle Wealth Planning Services Inc. grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 182.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,828 shares of the utilities provider's stock after buying an additional 19,274 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $533,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 62.4% during the first quarter. Itau Unibanco Holding S.A. now owns 579,489 shares of the utilities provider's stock worth $10,073,000 after buying an additional 222,724 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.5% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 57,023 shares of the utilities provider's stock valued at $1,018,000 after acquiring an additional 2,995 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth about $2,237,000. Gitterman Wealth Management LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth about $219,000. Finally, Compound Planning Inc. bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth about $222,000. 10.62% of the stock is currently owned by institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 1.2%

Shares of SBS stock traded up $0.26 during trading hours on Thursday, hitting $22.39. 394,595 shares of the company's stock traded hands, compared to its average volume of 1,043,756. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 7.75 and a beta of 0.86. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The stock's fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $19.59. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12-month low of $13.87 and a 12-month high of $22.88.

Wall Street Analyst Weigh In

A number of research firms recently commented on SBS. Wall Street Zen lowered 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. Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".

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.