Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS)’s share price traded down 3.6% during trading on Friday . The company traded as low as $8.89 and last traded at $8.93, with a volume of 668,146 shares changing hands. The stock had previously closed at $9.26.

Separately, Zacks Investment Research cut shares of Companhia de Saneamento Basico do Estado de Sao Paulo from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th.

The stock has a market cap of $6.12 billion and a P/E ratio of 24.35. The stock’s 50-day moving average is $8.26 and its 200 day moving average is $6.61.

A number of hedge funds recently made changes to their positions in the stock. Bank of Montreal Can increased its stake 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 worth $1,012,000 after buying an additional 17,610 shares in the last quarter. Alpine Woods Capital Investors LLC increased its stake 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 worth $1,573,000 after buying an additional 64,800 shares in the last quarter. Finally, First Trust Advisors LP increased its stake 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 worth $4,096,000 after buying an additional 39,882 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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