Raiffeisen Bank International AG Purchases 560,000 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

Key Points

• Raiffeisen Bank International increased its SABESP stake by 622.2% in the second quarter, buying 560,000 additional shares to reach 650,000 shares valued at approximately $3.78 million.
• Analyst sentiment remains moderately positive: two analysts rate the stock a Buy and one rates it Hold, with a consensus price target of $183.00.
• SABESP’s latest quarterly results fell short of expectations, reporting $0.07 in earnings per share versus a $0.09 estimate and revenue of $1.16 billion versus $1.23 billion expected.

Raiffeisen Bank International AG raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 622.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 650,000 shares of the utilities provider's stock after purchasing an additional 560,000 shares during the quarter. Raiffeisen Bank International AG's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $3,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBS. VPR Management LLC raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.3% in the fourth quarter. VPR Management LLC now owns 29,056 shares of the utilities provider's stock valued at $693,000 after purchasing an additional 376 shares during the period. Creative Planning boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.3% in the 3rd quarter. Creative Planning now owns 31,150 shares of the utilities provider's stock worth $775,000 after buying an additional 386 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 18,343 shares of the utilities provider's stock worth $437,000 after buying an additional 406 shares during the period. Quadrant Capital Group LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.0% in the 4th quarter. Quadrant Capital Group LLC now owns 10,344 shares of the utilities provider's stock valued at $247,000 after buying an additional 491 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.5% in the 4th quarter. Vident Advisory LLC now owns 35,538 shares of the utilities provider's stock valued at $848,000 after buying an additional 538 shares in the last quarter. Institutional investors own 10.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBS. Weiss Ratings cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Wall Street Zen lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Finally, Zacks Research cut Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $183.00.

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

Shares of NYSE SBS opened at $5.17 on Friday. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 4.13 and a beta of 0.67. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1-year low of $4.43 and a 1-year high of $7.16. The stock's 50-day moving average is $5.34 and its 200 day moving average is $61.29.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.23 billion. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 14.03% and a net margin of 23.93%. On average, sell-side analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.36 EPS for the current fiscal year.

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

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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