Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Shares Sold by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System reduced its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.2%, owning approximately 0.09% of the company, valued at $10.41 million as of the end of the most recent quarter.
• Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp reported a miss in quarterly earnings, with an EPS of $0.37, below the analysts' expectations of $0.38.
• Wall Street analysts have downgraded the stock from a "buy" to a "hold" rating, reflecting cautious sentiment amid recent performance challenges.

Maryland State Retirement & Pension System decreased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,083 shares of the utilities provider's stock after selling 19,373 shares during the period. Maryland State Retirement & Pension System owned 0.09% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $10,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth about $44,000. Headlands Technologies LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth $54,000. Farther Finance Advisors LLC raised its holdings in 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 worth $69,000 after buying an additional 3,571 shares during the last quarter. Rossby Financial LCC bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth about $141,000. Finally, Anchor Pointe Wealth Management LLC purchased a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the fourth quarter worth about $144,000. Institutional investors own 10.62% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of 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.

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

Shares of NYSE:SBS traded down $0.26 during trading on Monday, hitting $20.23. The company's stock had a trading volume of 416,474 shares, compared to its average volume of 1,026,207. The company has a 50-day moving average of $20.43 and a 200-day moving average of $18.97. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 7.55 and a beta of 0.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12 month low of $13.87 and a 12 month high of $22.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.89.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released 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 return on equity of 29.18% and a net margin of 28.70%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $7.67 billion. On average, sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current year.

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