Invesco Ltd. Sells 421,978 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Invesco Ltd. has reduced its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 34.0%, selling 421,978 shares and now holding approximately 817,822 shares valued at $14.6 million.
• Other institutional investors, such as Jane Street Group LLC and GAMMA Investing LLC, have increased their positions significantly, indicating fluctuating confidence in the utilities provider's stock.
• The stock has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, although it still boasts an average rating of "Strong Buy" from other analysts.

Invesco Ltd. cut its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 34.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 817,822 shares of the utilities provider's stock after selling 421,978 shares during the period. Invesco Ltd. owned approximately 0.12% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $14,606,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at $44,000. Headlands Technologies LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at $54,000. Farther Finance Advisors LLC boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% during the first quarter. Farther Finance Advisors LLC now owns 3,817 shares of the utilities provider's stock valued at $69,000 after buying an additional 3,571 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at $141,000. Finally, Anchor Pointe Wealth Management LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter valued at $144,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Price Performance

SBS traded up $0.29 on Thursday, hitting $22.45. 1,282,789 shares of the company's stock traded hands, compared to its average volume of 1,116,056. The company's 50 day simple moving average is $20.72 and its 200-day simple moving average is $19.45. The firm has a market cap of $15.34 billion, a price-to-earnings ratio of 7.77 and a beta of 0.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $22.88. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69.

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 research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average 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.