Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC has significantly reduced its stake in Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp by 46.8% in the first quarter, holding 27,884 shares valued at around $498,000.
• In contrast, other large investors, including Deutsche Bank AG and American Century Companies Inc., have increased their holdings in Sabesp, indicating diverse investment strategies among institutional investors.
• Analysts have varied views on the company's stock, with some downgrading it from a "buy" to a "hold" rating, while others upgraded it to a "strong buy," resulting in a consensus rating of "Strong Buy."

Vident Advisory LLC reduced its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 46.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,884 shares of the utilities provider's stock after selling 24,518 shares during the quarter. Vident Advisory LLC's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $498,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% during the 1st quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after buying an additional 1,394 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth $44,000. Headlands Technologies LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth $54,000. Farther Finance Advisors LLC grew its stake 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 last quarter. Finally, Rossby Financial LCC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 1st quarter worth $141,000. 10.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SBS shares. Wall Street Zen downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. 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 note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

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

NYSE:SBS traded down $0.14 during mid-day trading on Friday, reaching $23.46. 844,525 shares of the stock were exchanged, compared to its average volume of 998,000. The business has a fifty day moving average price of $21.08 and a 200 day moving average price of $19.88. The firm has a market capitalization of $16.03 billion, a PE ratio of 8.12 and a beta of 0.86. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1-year low of $13.87 and a 1-year high of $23.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69.

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.