Kapitalo Investimentos Ltda Buys 1,456,225 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Kapitalo Investimentos increased its Sabesp stake by 1,506.4% in the third quarter, purchasing 1,456,225 additional shares and ending with 1,552,893 shares worth approximately $8.25 million.
• Other institutional investors also raised their positions, with hedge funds and institutions collectively owning 10.62% of Sabesp.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $183, despite Sabesp missing quarterly earnings and revenue estimates.

Kapitalo Investimentos Ltda lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 1,506.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,552,893 shares of the utilities provider's stock after purchasing an additional 1,456,225 shares during the period. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp comprises 0.6% of Kapitalo Investimentos Ltda's investment portfolio, making the stock its 19th biggest position. Kapitalo Investimentos Ltda's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $8,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SBS. Corient Private Wealth LLC increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.1% during the 4th quarter. Corient Private Wealth LLC now owns 39,057 shares of the utilities provider's stock worth $931,000 after buying an additional 798 shares in the last quarter. Balefire LLC lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 9.1% in the third quarter. Balefire LLC now owns 20,571 shares of the utilities provider's stock valued at $109,000 after acquiring an additional 1,717 shares in the last quarter. KBC Group NV boosted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 4.1% in the first quarter. KBC Group NV now owns 50,371 shares of the utilities provider's stock worth $1,537,000 after acquiring an additional 2,003 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 22,343 shares of the utilities provider's stock worth $682,000 after acquiring an additional 2,368 shares during the last quarter. Finally, Groupe la Francaise boosted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.0% in the first quarter. Groupe la Francaise now owns 84,322 shares of the utilities provider's stock worth $2,565,000 after acquiring an additional 2,427 shares during the last quarter. Hedge funds and other institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Finally, Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 1.8%

Shares of NYSE SBS opened at $6.42 on Wednesday. The stock has a market cap of $22.57 billion, a PE ratio of 24.60, a P/E/G ratio of 4.82 and a beta of 0.67. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12-month low of $4.45 and a 12-month high of $7.16. The company has a 50-day moving average of $5.37 and a 200 day moving average of $29.30.

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 for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.23 billion. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 14.03% and a net margin of 23.93%. As a group, sell-side analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.38 EPS for the current fiscal year.

About Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, is a Brazilian water and sanitation company headquartered in São Paulo. Established in 1973, the company provides essential public-utility services, including the production, treatment and distribution of drinking water and the collection and treatment of wastewater.

Sabesp serves municipalities across the state of São Paulo, with a significant presence in the São Paulo metropolitan area and other urban and regional communities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.