Groupe la Francaise Decreases Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Groupe la Francaise reduced its stake in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp by 41.2%, now holding 64,365 shares valued at approximately $1.16 million.
• Institutional investments have varied, with Deutsche Bank AG increasing their stake by 55.1% and Citigroup raising theirs by 50.6% in the first quarter of 2023.
• Analysts have downgraded Sabesp from a "buy" to a "hold" rating, although the stock still maintains an average rating of "Strong Buy".

Groupe la Francaise lowered its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 41.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 64,365 shares of the utilities provider's stock after selling 45,158 shares during the period. Groupe la Francaise's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $1,161,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SBS. Geode Capital Management LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 29,349 shares of the utilities provider's stock worth $421,000 after buying an additional 1,683 shares during the period. Wells Fargo & Company MN boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 129.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,899 shares of the utilities provider's stock worth $228,000 after buying an additional 8,955 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 188.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 105,648 shares of the utilities provider's stock worth $1,514,000 after buying an additional 69,048 shares during the period. Guggenheim Capital LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter worth $153,000. Finally, First Trust Advisors LP boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.9% in the 4th quarter. First Trust Advisors LP now owns 1,401,173 shares of the utilities provider's stock worth $20,079,000 after buying an additional 26,125 shares during the period. Institutional investors own 10.62% of the company's stock.

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

Shares of NYSE SBS traded up $0.29 during mid-day trading on Thursday, hitting $22.45. 1,282,789 shares of the company's stock traded hands, compared to its average volume of 1,044,036. The company's 50-day moving average is $20.69 and its two-hundred day moving average is $19.41. 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 company has a market capitalization of $15.34 billion, a P/E ratio of 7.77 and a beta of 0.70. 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.

Wall Street Analysts Forecast Growth

Separately, 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 report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, 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 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.