Vident Advisory LLC Has $498,000 Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $SBS

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 lowered its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) by 46.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,884 shares of the utilities provider's stock after selling 24,518 shares during the period. Vident Advisory LLC's holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 62.4% during the first quarter. Itau Unibanco Holding S.A. now owns 579,489 shares of the utilities provider's stock valued at $10,073,000 after purchasing an additional 222,724 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.5% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 57,023 shares of the utilities provider's stock valued at $1,018,000 after purchasing an additional 2,995 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at approximately $2,237,000. Gitterman Wealth Management LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at approximately $219,000. Finally, Compound Planning Inc. purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 10.62% of the company's stock.

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

Shares of SBS traded down $0.27 during midday trading on Friday, hitting $23.33. 251,134 shares of the stock traded hands, compared to its average volume of 1,049,685. 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 firm has a market capitalization of $15.94 billion, a PE ratio of 8.06 and a beta of 0.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. The business's 50 day moving average price is $21.04 and its two-hundred day moving average price is $19.83.

Analyst Upgrades and Downgrades

SBS has been the subject of a number of recent analyst reports. 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. Zacks Research raised shares of 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. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company 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.