Formuepleje A S Makes New Investment in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Formuepleje A S bought 410,671 shares of Sabesp during the second quarter, worth approximately $2.37 million. Institutional investors collectively own 10.62% of the company.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $183, although several firms recently downgraded the stock to “Hold.”
• Sabesp’s latest quarterly results fell short of expectations: earnings were $0.07 per share versus $0.09 expected, while revenue reached $1.16 billion against a $1.23 billion estimate.

Formuepleje A S bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 410,671 shares of the utilities provider's stock, valued at approximately $2,374,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SBS. Jane Street Group LLC grew its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 349.0% in the first quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider's stock valued at $2,717,000 after purchasing an additional 118,237 shares during the period. Cetera Investment Advisers lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 23.5% during the 2nd quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider's stock valued at $275,000 after buying an additional 2,383 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 17.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider's stock valued at $1,329,000 after buying an additional 9,169 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 18.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider's stock valued at $1,099,000 after acquiring an additional 7,755 shares during the period. Finally, Invesco Ltd. grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 22.6% in the 2nd quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider's stock valued at $22,021,000 after acquiring an additional 184,486 shares during the period. Hedge funds and other institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBS. 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. Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut 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. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a consensus rating of "Moderate Buy" and an average target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 0.4%

NYSE SBS opened at $5.17 on Monday. The business has a fifty day moving average price of $5.34 and a 200 day moving average price of $60.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $4.43 and a one year high of $7.16. 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 company has a market cap of $18.19 billion, a P/E ratio of 14.50, a P/E/G ratio of 4.14 and a beta of 0.67.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.23 billion. 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%. Research analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.36 EPS for the current fiscal year.

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

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.

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