Graham Capital Management L.P. Reduces Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Graham Capital Management L.P. reduced its holdings in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp by 53.1% during the first quarter, now owning 31,561 shares worth $564,000.
• Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp has a market capitalization of $15.82 billion and a current P/E ratio of 8.01.
• Analysts have mixed views on the stock, with Zacks upgrading it to a "strong-buy" rating, while another firm downgraded it to a "hold" rating.

Graham Capital Management L.P. decreased its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,561 shares of the utilities provider's stock after selling 35,764 shares during the quarter. Graham Capital Management L.P.'s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% in the fourth quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 20,349 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth $803,000. GAMMA Investing LLC raised its position 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 valued at $413,000 after buying an additional 22,497 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter valued at $218,000. Finally, Northern Trust Corp lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% during the 1st quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider's stock valued at $25,838,000 after acquiring an additional 69,612 shares in the last quarter. 10.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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. 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 research report on Tuesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Performance

SBS traded up $0.47 during midday trading on Thursday, reaching $23.58. The company had a trading volume of 1,971,023 shares, compared to its average volume of 963,572. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12-month low of $13.87 and a 12-month high of $23.64. The business has a 50-day moving average price of $21.04 and a two-hundred day moving average price of $19.83. The stock has a market cap of $16.12 billion, a PE ratio of 8.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26.

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.