Handelsbanken Fonder AB Boosts Stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Handelsbanken Fonder AB increased its SABESP stake by 502.2% in the second quarter, purchasing 958,808 additional shares and bringing its total holdings to 1,149,745 shares valued at approximately $6.65 million.
• Other institutional investors also expanded their positions, with hedge funds and institutional investors collectively owning 10.62% of SBS.
• SABESP reported quarterly EPS of $0.07 and revenue of $1.16 billion, both below analyst expectations. Despite the earnings miss and a recent stock decline, analysts maintain a “Moderate Buy” consensus.

Handelsbanken Fonder AB raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 502.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149,745 shares of the utilities provider's stock after purchasing an additional 958,808 shares during the quarter. Handelsbanken Fonder AB's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $6,646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBS. Gradient Investments LLC lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 423.2% in the second quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider's stock worth $5,693,000 after buying an additional 796,772 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter valued at $550,000. B. Metzler seel. Sohn & Co. AG raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 43.1% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 78,406 shares of the utilities provider's stock valued at $1,870,000 after purchasing an additional 23,616 shares in the last quarter. Natixis Advisors LLC raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 18.5% during the third quarter. Natixis Advisors LLC now owns 19,981 shares of the utilities provider's stock valued at $497,000 after purchasing an additional 3,120 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 16.2% during the third quarter. Dimensional Fund Advisors LP now owns 663,935 shares of the utilities provider's stock valued at $16,497,000 after purchasing an additional 92,405 shares during the last quarter. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 1.4%

NYSE SBS opened at $4.61 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.74 and a debt-to-equity ratio of 1.07. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $4.18 and a 52 week high of $7.16. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.99 and a beta of 0.68. The company has a fifty day moving average of $5.54 and a two-hundred day moving average of $75.40.

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 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 14.49% and a net margin of 23.93%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.23 billion. On average, analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SBS. Wall Street Zen raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Friday, August 7th. Finally, Zacks Research lowered 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. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a consensus rating of "Moderate Buy" and a consensus target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp 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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