Northern Trust Corp Increases Stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Northern Trust Corp has increased its stake in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp by 5.1%, owning approximately $25.84 million worth of shares.
• Several large investors, including Wells Fargo and Dimensional Fund Advisors, have also increased their holdings in the company during the last quarter.
• Analysts downgraded Sabesp's stock rating from a "buy" to a "hold," though it still holds an average rating of "Strong Buy" based on other assessments.

Northern Trust Corp increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,446,698 shares of the utilities provider's stock after acquiring an additional 69,612 shares during the period. Northern Trust Corp owned about 0.21% of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp worth $25,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBS. Wells Fargo & Company MN grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 129.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,899 shares of the utilities provider's stock worth $228,000 after acquiring an additional 8,955 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 30.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,282 shares of the utilities provider's stock worth $4,149,000 after acquiring an additional 68,174 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 49.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 167,225 shares of the utilities provider's stock worth $2,396,000 after acquiring an additional 55,585 shares in the last quarter. Jane Street Group LLC grew its position 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 worth $485,000 after acquiring an additional 20,349 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.7% in the fourth quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider's stock worth $422,000 after acquiring an additional 776 shares in the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 1.0%

Shares of NYSE:SBS traded up $0.23 during midday trading on Thursday, hitting $22.36. 305,210 shares of the stock traded hands, compared to its average volume of 1,043,226. The stock has a market capitalization of $15.28 billion, a PE ratio of 7.74 and a beta of 0.86. The business's 50 day moving average is $20.86 and its two-hundred day moving average is $19.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $22.88.

Wall Street Analysts Forecast Growth

SBS has been the subject of several research reports. 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. Zacks Research raised shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

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.