PGGM Investments cut its position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,415 shares of the utilities provider's stock after selling 411,585 shares during the quarter. PGGM Investments' holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP were worth $9,312,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 316.6% in the fourth quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider's stock valued at $41,000 after buying an additional 2,042 shares during the period. Van ECK Associates Corp raised its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 13.1% in the third quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider's stock valued at $96,000 after buying an additional 921 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 9.7% in the third quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider's stock valued at $118,000 after purchasing an additional 857 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the third quarter valued at $125,000. Finally, SG Americas Securities LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the fourth quarter valued at $130,000. 10.62% of the stock is currently owned by institutional investors.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP Price Performance
Shares of SBS traded up $0.41 during midday trading on Friday, reaching $16.00. The stock had a trading volume of 491,838 shares, compared to its average volume of 961,891. The company's 50-day moving average is $16.02 and its 200 day moving average is $14.81. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a 12-month low of $8.75 and a 12-month high of $17.14. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP Increases Dividend
The company also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, April 29th will be issued a $0.2808 dividend. This is a boost from Companhia de Saneamento Básico do Estado de São Paulo - SABESP's previous annual dividend of $0.19. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo - SABESP's dividend payout ratio is presently 26.74%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "hold" rating to a "buy" rating in a research report on Monday, April 22nd.
Check Out Our Latest Research Report on SBS
About Companhia de Saneamento Básico do Estado de São Paulo - SABESP
(
Free Report)
Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.
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