Shares of Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.70 and last traded at $9.43, with a volume of 1,203,956 shares changing hands. The stock had previously closed at $9.44.

SBS has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of 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. 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. Finally, 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.

The stock has a market capitalization of $6.34 billion and a price-to-earnings ratio of 23.47. The firm’s 50-day moving average is $9.14 and its 200-day moving average is $7.40.

An institutional investor recently raised its position in Companhia de Saneamento Basico do Estado de Sao Paulo stock. Bank of Montreal Can increased its stake in shares of Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) by 8.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 219,981 shares of the company’s stock after buying an additional 17,610 shares during the period. Bank of Montreal Can’s holdings in Companhia de Saneamento Basico do Estado de Sao Paulo were worth $1,012,000 at the end of the most recent reporting 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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