Kapitalo Investimentos Ltda Takes Position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Kapitalo Investimentos Ltda has acquired a new stake in Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp, purchasing 475,316 shares valued at approximately $10.4 million, which is 2.3% of its total holdings.
• Several institutional investors have increased their positions in Sabesp, with Brooklyn Investment Group raising its stake by 166% in the first quarter.
• Analysts have upgraded Sabesp's rating from "hold" to "strong-buy,” with the stock currently receiving an average rating of "Strong Buy" from two research analysts.

Kapitalo Investimentos Ltda purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 475,316 shares of the utilities provider's stock, valued at approximately $10,443,000. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp accounts for 2.3% of Kapitalo Investimentos Ltda's portfolio, making the stock its 12th biggest holding. Kapitalo Investimentos Ltda owned 0.07% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Jane Street Group LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% in 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 acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter valued at $803,000. GAMMA Investing LLC lifted its holdings in 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 valued at $413,000 after purchasing an additional 22,497 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter worth about $218,000. Finally, Northern Trust Corp lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.1% during the first quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider's stock worth $25,838,000 after acquiring an additional 69,612 shares in the last quarter. Institutional investors and hedge funds own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 1.5%

Shares of NYSE:SBS traded down $0.38 during midday trading on Monday, hitting $24.18. 1,494,920 shares of the stock traded hands, compared to its average volume of 1,117,906. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The business's 50 day moving average is $21.52 and its two-hundred day moving average is $20.26. The stock has a market capitalization of $16.53 billion, a PE ratio of 8.37 and a beta of 0.86. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $24.89.

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.