Letko Brosseau & Associates Inc. Lowers Stock Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS)

Key Points

• Letko Brosseau & Associates Inc. sold 432,526 shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp, reducing its stake by 15.5% to own 2,352,339 shares as of the latest SEC filing.
• Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp reported $0.37 EPS for the quarter, slightly missing analysts' expectations of $0.38 EPS.
• Wall Street Zen downgraded the company from a "buy" to a "hold" rating, indicating a shift in analyst sentiment regarding the stock's performance.

Letko Brosseau & Associates Inc. reduced its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,352,339 shares of the utilities provider's stock after selling 432,526 shares during the period. Letko Brosseau & Associates Inc. owned 0.34% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $42,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter worth about $44,000. Assetmark Inc. lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.2% in the first quarter. Assetmark Inc. now owns 726,980 shares of the utilities provider's stock worth $12,984,000 after acquiring an additional 8,821 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter worth about $284,000. Cerity Partners LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter valued at approximately $288,000. Finally, Capital Advisors Inc. OK acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the first quarter valued at approximately $214,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 1.4%

NYSE:SBS traded up $0.27 during trading hours on Friday, hitting $19.55. 1,294,907 shares of the company traded hands, compared to its average volume of 1,116,272. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $20.50 and its 200-day simple moving average is $18.79. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $22.18. The company has a market cap of $13.36 billion, a PE ratio of 7.29 and a beta of 0.70.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 28.70% and a return on equity of 29.18%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $7.67 billion. Equities analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current year.

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.