Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 44.1%, now owning 312,223 shares valued at approximately $5.58 million.
• Citigroup Inc. significantly increased its stake in the company by 50.6%, holding 2,473,310 shares worth about $44.17 million.
• Wall Street Zen downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating on May 20th.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 44.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,223 shares of the utilities provider's stock after selling 246,574 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $5,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Affirmative Financial Network lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.3% in the 1st quarter. First Affirmative Financial Network now owns 17,932 shares of the utilities provider's stock valued at $320,000 after purchasing an additional 565 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.7% in the 4th quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider's stock valued at $422,000 after purchasing an additional 776 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 9.3% in the 4th quarter. Quantinno Capital Management LP now owns 14,573 shares of the utilities provider's stock valued at $209,000 after purchasing an additional 1,237 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 7.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 19,429 shares of the utilities provider's stock valued at $278,000 after purchasing an additional 1,289 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 8.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,409 shares of the utilities provider's stock worth $311,000 after acquiring an additional 1,418 shares during the period. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, 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 report on Tuesday, May 20th.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 0.5%

Shares of SBS stock traded down $0.11 during trading hours on Friday, hitting $21.59. 667,768 shares of the company were exchanged, compared to its average volume of 1,317,528. The firm has a market cap of $14.76 billion, a PE ratio of 7.47 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. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average of $20.57 and a 200 day moving average of $19.15.

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.