Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as $8.79 and last traded at $8.82, with a volume of 539,715 shares changing hands. The stock had previously closed at $9.04.

SBS has been the topic of several analyst reports. Janney Montgomery Scott lowered 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. JPMorgan Chase & Co. lowered 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, Zacks Investment Research raised 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 target on the stock in a report on Tuesday, June 21st.

The stock has a market cap of $6.08 billion and a price-to-earnings ratio of 15.08. The firm has a 50 day moving average of $9.17 and a 200-day moving average of $7.65.

An institutional investor recently raised its position in Companhia de Saneamento Basico do Estado de Sao Paulo stock. Bank of Montreal Can increased its position in 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 institutional investor 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 water and sewage service provider. The Company provides water and sewage services to a range of residential, commercial, industrial and governmental customers in over 360 municipalities in the state of Sao Paulo, including the city of Sao Paulo.

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