Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Stock Position Boosted by Gradient Investments LLC

Key Points

• Gradient Investments increased its Sabesp position by 18% in the third quarter, adding 176,827 shares to reach 1.16 million shares valued at approximately $6.17 million.
• Institutional and hedge-fund ownership stands at 10.62%, with several firms either initiating or expanding positions in the Brazilian water and wastewater utility.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $183, despite recent downgrades and Sabesp’s latest earnings missing revenue and EPS estimates.

Gradient Investments LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 18.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,161,854 shares of the utilities provider's stock after acquiring an additional 176,827 shares during the quarter. Gradient Investments LLC's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $6,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 430.6% in the 2nd quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 6,769 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the second quarter worth about $61,000. Rehmann Capital Advisory Group acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the second quarter worth about $67,000. Plan A Wealth LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the second quarter valued at about $68,000. Finally, Greenspring Advisors LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the second quarter valued at about $74,000. Institutional investors and hedge funds own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research cut Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen lowered 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 Monday, August 17th. Finally, Weiss Ratings cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 3.7%

Shares of NYSE SBS opened at $6.61 on Friday. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1 year low of $4.43 and a 1 year high of $7.16. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 4.88 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 1.47. The stock's 50-day simple moving average is $5.19 and its 200-day simple moving average is $37.25.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 14.03% and a net margin of 23.93%.The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, equities analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.38 earnings per share for the current fiscal year.

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

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, is a Brazilian water and wastewater services company headquartered in São Paulo. Its principal activities include the collection, treatment and distribution of drinking water, as well as the collection, treatment and disposal of sewage.

Sabesp supplies residential, commercial, industrial and public-sector customers. The company also operates and maintains water-production, distribution and wastewater-treatment infrastructure, and provides related services such as connections, metering and customer support.

Established in 1973, Sabesp has historically served hundreds of municipalities in the state of São Paulo, including the São Paulo metropolitan region, and has been one of Brazil's largest sanitation companies by population served.

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