Hsbc Holdings PLC Reduces Stock Position in 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 lessened its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in SBS. Geode Capital Management LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 29,349 shares of the utilities provider's stock valued at $421,000 after buying an additional 1,683 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 129.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,899 shares of the utilities provider's stock worth $228,000 after acquiring an additional 8,955 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 188.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 105,648 shares of the utilities provider's stock valued at $1,514,000 after acquiring an additional 69,048 shares during the last quarter. Guggenheim Capital LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter valued at $153,000. Finally, Dimensional Fund Advisors LP increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 30.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,282 shares of the utilities provider's stock worth $4,149,000 after purchasing an additional 68,174 shares during the last quarter. 10.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of 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, Based on data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 0.8%

NYSE SBS traded up $0.18 on Friday, hitting $22.60. 967,543 shares of the stock were exchanged, compared to its average volume of 1,106,838. 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 52-week low of $13.87 and a 52-week high of $22.88. The firm has a market capitalization of $15.45 billion, a P/E ratio of 7.82 and a beta of 0.86. The stock has a fifty day moving average price of $20.76 and a two-hundred day moving average price of $19.52.

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.