Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) shares fell 3.4% on Monday . The stock traded as low as $9.03 and last traded at $9.06, with a volume of 1,092,633 shares traded. The stock had previously closed at $9.38.

SBS has been the subject of a number of recent research reports. Zacks Investment Research downgraded 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. Janney Montgomery Scott downgraded shares of Companhia de Saneamento Basico do Estado de Sao Paulo from a “buy” rating to a “neutral” rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Companhia de Saneamento Basico do Estado de Sao Paulo from an “overweight” rating to a “neutral” rating in a report on Friday, July 29th.

The firm has a market capitalization of $6.27 billion and a P/E ratio of 24.22. The company’s 50 day moving average price is $8.91 and its 200-day moving average price is $7.13.

Several hedge funds have recently modified their holdings of SBS. KBC Group NV increased its stake in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 5.7% in the fourth quarter. KBC Group NV now owns 563,612 shares of the company’s stock valued at $2,593,000 after buying an additional 30,385 shares during 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 valued at $1,573,000 after buying an additional 64,800 shares during the last quarter. Finally, 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 valued at $1,012,000 after buying an additional 17,610 shares during 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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