Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Stock Price Up 3.8% – Should You Buy?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) shot up 3.8% during trading on Tuesday . The stock traded as high as $16.65 and last traded at $16.57. 262,841 shares changed hands during trading, a decline of 75% from the average session volume of 1,058,153 shares. The stock had previously closed at $15.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBS shares. The Goldman Sachs Group upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note on Sunday, October 6th. StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $16.41 and a 200-day moving average of $15.78. The firm has a market capitalization of $11.39 billion, a P/E ratio of 6.56 and a beta of 1.16.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,973 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 770 shares in the last quarter. QRG Capital Management Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% during the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock worth $196,000 after buying an additional 780 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after buying an additional 911 shares during the period. Bleakley Financial Group LLC raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 20,537 shares of the utilities provider’s stock valued at $340,000 after buying an additional 956 shares in the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% during the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after acquiring an additional 1,069 shares during the period. Institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

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.