Gitterman Wealth Management LLC Purchases New Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Gitterman Wealth Management LLC invested $219,000 in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp, acquiring 12,248 shares during the first quarter.
• Other institutional investors also increased their stakes in SBS, including Brooklyn Investment Group, which boosted its holdings by 166.0%.
• While Wall Street analysts recently downgraded the stock from a "buy" to a "hold" rating, the consensus rating remains a "Strong Buy".

Gitterman Wealth Management LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,248 shares of the utilities provider's stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 55.1% in the 4th quarter. Deutsche Bank AG now owns 6,234,236 shares of the utilities provider's stock valued at $89,337,000 after purchasing an additional 2,213,846 shares during the period. Citigroup Inc. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 50.6% in the 1st quarter. Citigroup Inc. now owns 2,473,310 shares of the utilities provider's stock valued at $44,173,000 after purchasing an additional 830,937 shares during the period. Northern Trust Corp boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% in the 1st quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider's stock valued at $25,838,000 after purchasing an additional 69,612 shares during the period. First Trust Advisors LP boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.9% in the 4th quarter. First Trust Advisors LP now owns 1,401,173 shares of the utilities provider's stock valued at $20,079,000 after purchasing an additional 26,125 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 0.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,348,460 shares of the utilities provider's stock valued at $24,083,000 after acquiring an additional 6,931 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 2.4%

NYSE:SBS traded up $0.53 on Wednesday, hitting $22.03. The stock had a trading volume of 513,442 shares, compared to its average volume of 1,039,416. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $13.87 and a 52 week high of $22.88. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The business's fifty day moving average is $20.67 and its 200 day moving average is $19.39. The company has a market cap of $15.05 billion, a PE ratio of 7.62 and a beta of 0.70.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

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