Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) gapped up prior to trading on Wednesday . The stock had previously closed at $10.05, but opened at $10.37. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $10.65, with a volume of 2,108,989 shares traded.

Several analysts recently issued reports on the company. Zacks Investment Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. ValuEngine upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Janney Montgomery Scott upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “neutral” rating to a “buy” rating in a report on Wednesday, August 16th. Finally, Citigroup Inc. lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “neutral” rating to a “sell” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.00.

The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 9.27 and a beta of 1.78. The stock has a 50 day moving average of $10.39 and a 200 day moving average of $9.97.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookfield Asset Management Inc. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 40.7% in the 2nd quarter. Brookfield Asset Management Inc. now owns 6,193,655 shares of the utilities provider’s stock worth $58,964,000 after purchasing an additional 1,791,635 shares during the period. Lord Abbett & CO. LLC acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter worth $12,385,000. USA Financial Portformulas Corp acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter worth $744,000. State Street Corp boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.6% in the 2nd quarter. State Street Corp now owns 1,470,063 shares of the utilities provider’s stock worth $13,993,000 after purchasing an additional 36,682 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 180.7% in the 2nd quarter. Gotham Asset Management LLC now owns 33,344 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 21,466 shares during the period. 15.87% of the stock is owned by hedge funds and other institutional investors.

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Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

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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