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. lessened its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Deutsche Bank AG raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 55.1% during the 4th quarter. Deutsche Bank AG now owns 6,234,236 shares of the utilities provider's stock worth $89,337,000 after acquiring an additional 2,213,846 shares in the last quarter. Renaissance Technologies LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,730,495 shares of the utilities provider's stock worth $24,798,000 after buying an additional 33,200 shares during the last quarter. First Trust Advisors LP grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.9% during the 4th quarter. First Trust Advisors LP now owns 1,401,173 shares of the utilities provider's stock worth $20,079,000 after buying an additional 26,125 shares during the last quarter. Northern Trust Corp grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 135.5% during the 4th quarter. Northern Trust Corp now owns 1,377,086 shares of the utilities provider's stock worth $19,734,000 after buying an additional 792,330 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 0.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,348,460 shares of the utilities provider's stock worth $24,083,000 after buying an additional 6,931 shares during the last quarter. Institutional investors and hedge funds own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

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 Performance

NYSE:SBS traded up $0.27 during mid-day trading on Friday, reaching $19.55. 1,294,907 shares of the stock were exchanged, compared to its average volume of 1,116,272. The company has a 50 day simple moving average of $20.50 and a 200-day simple moving average of $18.76. The stock has a market capitalization of $13.36 billion, a P/E ratio of 7.29 and a beta of 0.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1 year low of $13.87 and a 1 year high of $22.18.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $7.67 billion. Analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current fiscal year.

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.