Hsbc Holdings PLC Sells 23,173 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Hsbc Holdings PLC reduced its stake in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp by 7.4%, owning 288,397 shares after selling 23,173 shares in the first quarter.
• Brooklyn Investment Group significantly increased its stake in Sabesp by 166%, and other institutions also made changes to their positions in the company.
• Wall Street Zen downgraded Sabesp from a "buy" rating to a "hold" rating, while the company still has an average rating of "Strong Buy" from other analysts.

Hsbc Holdings PLC reduced its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 7.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 288,397 shares of the utilities provider's stock after selling 23,173 shares during the period. Hsbc Holdings PLC's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $5,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% during the 4th quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock worth $485,000 after acquiring an additional 20,349 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth approximately $803,000. GAMMA Investing LLC lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% during the 1st quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock worth $413,000 after acquiring an additional 22,497 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth approximately $218,000. Finally, Two Sigma Investments LP bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth approximately $1,024,000. 10.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 1.3%

NYSE SBS traded up $0.29 on Thursday, reaching $22.45. 1,282,789 shares of the stock traded hands, compared to its average volume of 1,116,056. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 7.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12 month low of $13.87 and a 12 month high of $22.88. The company has a fifty day moving average price of $20.72 and a 200-day moving average price of $19.45.

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.