Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) shares shot up 2.3% during trading on Thursday . The company traded as high as $9.37 and last traded at $9.34, with a volume of 1,904,938 shares traded. The stock had previously closed at $9.13.

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

The company has a market capitalization of $6.12 billion and a PE ratio of 23.96. The company has a 50-day moving average price of $8.31 and a 200 day moving average price of $6.64.

Several hedge funds and institutional investors recently modified their holdings of SBS. First Trust Advisors LP raised 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 worth $4,096,000 after buying an additional 39,882 shares in the last quarter. Bank of Montreal Can raised its stake in 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 during the period. Finally, Alpine Woods Capital Investors LLC raised its stake in 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 during the period.

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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