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

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth about $44,000. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 3,571 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth approximately $141,000. Anchor Pointe Wealth Management LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 4th quarter valued at approximately $144,000. Finally, Guggenheim Capital LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter valued at $153,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, 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.

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

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock traded up $0.58 during midday trading on Thursday, reaching $20.59. 1,123,772 shares of the company's stock were exchanged, compared to its average volume of 1,173,235. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 0.89. 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 stock's 50-day simple moving average is $20.43 and its 200 day simple moving average is $18.89. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 7.68 and a beta of 0.70.

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