Alliancebernstein L.P. Reduces Stock Position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Alliancebernstein L.P. has reduced its stake in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp by 4.8%, now holding approximately 0.12% of the company, valued at $15.08 million.
• In contrast, Citigroup Inc. has significantly increased its stake by 50.6%, owning 2,473,310 shares worth about $44.17 million as of the last quarter.
• Analysts currently have a consensus rating of "Strong Buy" for Sabesp, reflecting a positive outlook despite differing ratings from individual analysts.

Alliancebernstein L.P. lowered its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 844,356 shares of the utilities provider's stock after selling 42,910 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $15,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% in the 1st quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after buying an additional 1,394 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $44,000. Headlands Technologies LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $54,000. Farther Finance Advisors LLC lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% during 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 period. Finally, Rossby Financial LCC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $141,000. Institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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 note 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, September 2nd. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 1.0%

NYSE:SBS traded down $0.24 on Tuesday, reaching $23.75. 511,419 shares of the company's stock were exchanged, compared to its average volume of 1,049,451. The business has a fifty day moving average of $21.14 and a 200-day moving average of $19.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52-week low of $13.87 and a 52-week high of $24.05. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 8.22 and a beta of 0.86.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company 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.