Raiffeisen Bank International AG Buys Shares of 22,035 Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS)

Key Points

• Raiffeisen Bank International AG has acquired a new position in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp, purchasing 22,035 shares valued at approximately $396,000 during the first quarter.
• Following this investment trend, several institutional investors have increased their stakes in Sabesp, with notable acquisitions totaling approximately $44,000 to $153,000.
• Analysts have downgraded Sabesp's rating from "buy" to "hold," and the company reported earnings per share of $0.37, missing expectations by $0.01.

Raiffeisen Bank International AG bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 22,035 shares of the utilities provider's stock, valued at approximately $396,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 8.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,409 shares of the utilities provider's stock worth $311,000 after buying an additional 1,418 shares in the last quarter. US Bancorp DE lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 27.6% in the 1st quarter. US Bancorp DE now owns 17,469 shares of the utilities provider's stock worth $312,000 after buying an additional 3,775 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth $44,000. Assetmark Inc. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.2% in the 1st quarter. Assetmark Inc. now owns 726,980 shares of the utilities provider's stock worth $12,984,000 after buying an additional 8,821 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth $284,000. Institutional investors and hedge funds own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 0.3%

Shares of SBS traded down $0.06 during midday trading on Friday, hitting $20.49. The company had a trading volume of 1,106,663 shares, compared to its average volume of 1,086,859. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52 week low of $13.87 and a 52 week high of $22.18. The company's 50 day moving average price is $20.43 and its 200 day moving average price is $18.95. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 7.65 and a beta of 0.70.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $7.67 billion. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 28.70% and a return on equity of 29.18%. On average, equities research analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded 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 Company 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.