Duff & Phelps Investment Management Co. Purchases 125,000 Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Duff & Phelps Investment Management Co. increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375,000 shares of the utilities provider’s stock after purchasing an additional 125,000 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.20% of Companhia de Saneamento Básico do Estado de São Paulo – SABESP worth $20,941,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% in the 3rd quarter. Citigroup Inc. now owns 12,973 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 789 shares in the last quarter. Alpine Global Management LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter worth about $195,000. QRG Capital Management Inc. bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter worth about $125,000. PNC Financial Services Group Inc. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after buying an additional 857 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% in the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after buying an additional 2,042 shares during the last quarter. Institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

NYSE:SBS traded down $0.38 during mid-day trading on Tuesday, reaching $15.68. The company’s stock had a trading volume of 108,961 shares, compared to its average volume of 899,649. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12-month low of $8.75 and a 12-month high of $17.14. The firm’s fifty day moving average price is $16.02 and its two-hundred day moving average price is $14.85. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The stock has a market cap of $10.72 billion, a P/E ratio of 18.66, a PEG ratio of 0.85 and a beta of 1.23.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, April 29th will be given a $0.2808 dividend. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. The ex-dividend date is Friday, April 26th. This represents a yield of 1.4%. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s payout ratio is 52.33%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Tuesday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.