Perigon Wealth Management LLC Purchases Shares of 42,606 Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Perigon Wealth Management LLC bought a new position of 42,606 shares in Companhia de Saneamento Básico do Estado de São Paulo (NYSE:SBS) in Q4, valued at about $1.016 million.
• SABESP declared a special dividend of $0.4772 per share (record/ex-dividend date March 27; payable May 11), which the article reports as a 55.0% yield.
• Analysts have recently upgraded SBS, giving it a consensus "Strong Buy" rating with a $36.60 price target after upgrades from Jefferies, Weiss Ratings and Zacks.

Perigon Wealth Management LLC acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,606 shares of the utilities provider's stock, valued at approximately $1,016,000.

Several other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 444.8% in the third quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider's stock valued at $76,892,000 after purchasing an additional 2,522,231 shares in the last quarter. Bank of America Corp DE increased its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 54.9% in the 2nd quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider's stock valued at $69,251,000 after buying an additional 1,116,681 shares during the period. Wellington Management Group LLP bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 3rd quarter valued at $27,444,000. Perpetual Ltd raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 116.6% in the 3rd quarter. Perpetual Ltd now owns 1,719,250 shares of the utilities provider's stock valued at $42,792,000 after buying an additional 925,684 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 296.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 445,786 shares of the utilities provider's stock valued at $11,096,000 after buying an additional 333,463 shares in the last quarter. Institutional investors and hedge funds own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 0.4%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock opened at $30.26 on Tuesday. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12-month low of $16.52 and a 12-month high of $30.78. The stock has a market capitalization of $21.29 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 6.02 and a beta of 0.75. The company has a 50-day simple moving average of $28.79 and a 200 day simple moving average of $26.16. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.83.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The utilities provider reported $0.71 EPS for the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 23.64% and a return on equity of 15.76%. The firm had revenue of $1.03 billion for the quarter. Research analysts expect 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 Announces Dividend

The firm also recently declared a special dividend, which will be paid on Monday, May 11th. Investors of record on Friday, March 27th will be issued a dividend of $0.4772 per share. This represents a yield of 55.0%. The ex-dividend date of this dividend is Friday, March 27th. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp's dividend payout ratio (DPR) is currently 4.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on SBS shares. Jefferies Financial Group began coverage on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a research report on Thursday, March 19th. They set a "buy" rating and a $36.60 target price on the stock. Weiss Ratings raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, March 17th. Finally, Zacks Research upgraded 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 Wednesday, March 11th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy" and a consensus target price of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company Profile

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.

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