Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) shares rose 6.2% during trading on Friday . The stock traded as high as $8.96 and last traded at $8.96, with a volume of 1,051,197 shares. The stock had previously closed at $8.44.

Separately, Zacks Investment Research upgraded Companhia de Saneamento Basico do Estado de Sao Paulo from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Tuesday, June 21st.

The stock has a 50 day moving average of $8.05 and a 200-day moving average of $6.50. The firm has a market cap of $6.09 billion and a P/E ratio of 23.76.

Other hedge funds and institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 8.7% in the fourth quarter. Bank of Montreal Can now owns 219,981 shares of the company’s stock valued at $1,012,000 after buying an additional 17,610 shares in the last quarter. First Trust Advisors LP increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 4.7% in the fourth quarter. First Trust Advisors LP now owns 890,458 shares of the company’s stock valued at $4,096,000 after buying an additional 39,882 shares in the last quarter. Alpine Woods Capital Investors LLC increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 23.4% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 341,900 shares of the company’s stock valued at $1,573,000 after buying an additional 64,800 shares in the last quarter. Finally, Russell Frank Co increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 2.2% in the fourth quarter. Russell Frank Co now owns 3,278,825 shares of the company’s stock valued at $15,315,000 after buying an additional 69,754 shares in the last quarter.

Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a mixed capital company. The Company is engaged in the provision of basic and environmental sanitation services in the State of Sao Paulo, as well as it supplies treated water and sewage services on a wholesale basis. The Company operates two segments: water supply and sewage services.

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