Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Stock Position Reduced by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System has reduced its position in Sabesp stock by 4.4%, owning approximately 0.08% of the company valued at $12.25 million as of the latest SEC filing.
• Analysts have shown increasing confidence in Sabesp, with Zacks Research upgrading the stock from a "hold" to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy."
• Sabesp's stock recently opened at $23.14 and has a market capitalization of $15.82 billion, reflecting significant investor interest in the utilities sector.

Maryland State Retirement & Pension System lessened its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 557,685 shares of the utilities provider's stock after selling 25,398 shares during the period. Maryland State Retirement & Pension System owned about 0.08% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $12,252,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% during 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 last quarter. GAMMA Investing LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider's stock worth $41,000 after purchasing an additional 552 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $44,000. Headlands Technologies LLC bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $54,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 88.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,885 shares of the utilities provider's stock worth $63,000 after purchasing an additional 1,352 shares during the last quarter. Institutional investors own 10.62% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Wednesday. Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 0.8%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock opened at $23.14 on Thursday. The business's fifty day moving average price is $22.58 and its two-hundred day moving average price is $20.79. 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 $15.82 billion, a P/E ratio of 8.01 and a beta of 0.86. 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.

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

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.

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