HighTower Advisors LLC Invests $3.54 Million in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• HighTower Advisors LLC has made a significant investment of approximately $3.54 million in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp, acquiring 198,009 shares during the first quarter.
• Other major investors, including Citigroup Inc. and PNC Financial Services Group Inc., have also increased their stakes in Sabesp, reflecting growing institutional interest in the company.
• Despite recent investments, an analyst downgraded the stock from a "buy" to a "hold" rating, although the consensus remains a "Strong Buy."

HighTower Advisors LLC bought a new stake 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 198,009 shares of the utilities provider's stock, valued at approximately $3,536,000.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% during the fourth quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 20,349 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at $803,000. GAMMA Investing LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% during the first quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock valued at $413,000 after purchasing an additional 22,497 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter valued at $218,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter valued at $1,024,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded 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 investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp currently has a consensus rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 3.1%

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock traded up $0.67 during mid-day trading on Wednesday, hitting $22.17. The company's stock had a trading volume of 984,694 shares, compared to its average volume of 1,171,479. The firm's 50 day moving average is $20.69 and its 200 day moving average is $19.41. The company has a market cap of $15.15 billion, a PE ratio of 7.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. 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.

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.