Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp by 32.8% in the second quarter, selling 442,676 shares.
• Citigroup Inc. significantly increased its holdings in Sabesp by 50.6% in the first quarter, now owning approximately 2.47 million shares.
• Zacks Research upgraded the stock from a "hold" to a "strong-buy" rating, while the average rating for Sabesp is considered to be "Strong Buy."

Robeco Institutional Asset Management B.V. cut its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 905,784 shares of the utilities provider's stock after selling 442,676 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.13% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $19,900,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Citigroup Inc. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 50.6% in the first quarter. Citigroup Inc. now owns 2,473,310 shares of the utilities provider's stock worth $44,173,000 after acquiring an additional 830,937 shares during the last quarter. Strs Ohio acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth approximately $29,142,000. Northern Trust Corp raised its position in shares of 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 worth $25,838,000 after purchasing an additional 69,612 shares during the period. American Century Companies Inc. lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 159.8% in the 1st quarter. American Century Companies Inc. now owns 1,280,088 shares of the utilities provider's stock worth $22,862,000 after purchasing an additional 787,399 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter valued at approximately $20,094,000. Institutional investors own 10.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SBS. Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 0.1%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock opened at $23.98 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1-year low of $13.87 and a 1-year high of $25.07. The business's fifty day moving average price is $22.33 and its two-hundred day moving average price is $20.69. The company has a market capitalization of $16.39 billion, a P/E ratio of 8.30 and a beta of 0.86.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.