Public Employees Retirement System of Ohio Sells 15,641 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• The Public Employees Retirement System of Ohio sold 15,641 shares of Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS), reducing its holdings by 90.3% to just 1,676 shares, valued at $37,000.
• Institutional investors have been active, with GAMMA Investing LLC increasing its stake by 3,664% during the 1st quarter, now owning 23,111 shares valued at $413,000.
• Analysts have upgraded the stock rating, with Zacks Research moving it from "hold" to "strong-buy", reflecting optimism about the company's future performance.

Public Employees Retirement System of Ohio lessened its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 90.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,676 shares of the utilities provider's stock after selling 15,641 shares during the period. Public Employees Retirement System of Ohio's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SBS. GAMMA Investing LLC raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3,664.0% in the 1st quarter. GAMMA Investing LLC now owns 23,111 shares of the utilities provider's stock valued at $413,000 after acquiring an additional 22,497 shares during the period. Farther Finance Advisors LLC increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1,451.6% during the 1st 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 period. Handelsbanken Fonder AB bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth $803,000. QRG Capital Management Inc. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 12.2% during the 1st quarter. QRG Capital Management Inc. now owns 14,452 shares of the utilities provider's stock worth $258,000 after buying an additional 1,568 shares during the period. Finally, Blue Trust Inc. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 38.3% during the 1st quarter. Blue Trust Inc. now owns 25,925 shares of the utilities provider's stock worth $463,000 after buying an additional 7,184 shares during the period. Institutional investors own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 0.8%

Shares of NYSE SBS opened at $23.14 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $13.87 and a 52 week high of $25.07. The stock has a market capitalization of $15.82 billion, a P/E ratio of 8.01 and a beta of 0.86. The stock's fifty day moving average is $22.58 and its 200 day moving average is $20.79.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBS. Zacks Research upgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp presently has an average 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.

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