Zacks Research Upgrades Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) to Strong-Buy

Key Points

• Zacks Research has upgraded Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) from a "hold" to a "strong-buy" rating, reflecting positive sentiment among analysts.
• Despite the upgrade from Zacks, Wall Street Zen downgraded the stock from "buy" to "hold," highlighting mixed recommendations among analysts.
• Institutional investors have significantly increased their stakes in Sabesp, with Deutsche Bank AG raising its ownership by 55.1%, suggesting growing confidence in the company's prospects.

Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Separately, Wall Street Zen lowered 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. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 0.1%

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock traded up $0.02 on Tuesday, hitting $23.18. 1,428,276 shares of the stock traded hands, compared to its average volume of 1,052,303. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69. The firm has a market cap of $15.84 billion, a P/E ratio of 8.02 and a beta of 0.86. The business's fifty day simple moving average is $20.93 and its 200 day simple moving average is $19.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1 year low of $13.87 and a 1 year high of $23.22.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SBS. Osaic Holdings Inc. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2,540.8% in the 2nd quarter. Osaic Holdings Inc. now owns 56,724 shares of the utilities provider's stock worth $1,246,000 after purchasing an additional 54,576 shares in the last quarter. Strategic Investment Advisors MI bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter valued at $329,000. Vident Advisory LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 4.1% in the 2nd quarter. Vident Advisory LLC now owns 29,030 shares of the utilities provider's stock valued at $638,000 after acquiring an additional 1,146 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter worth $548,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,041 shares of the utilities provider's stock worth $462,000 after buying an additional 6,296 shares during the period. 10.62% of the stock is owned by hedge funds and other institutional investors.

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.