Handelsbanken Fonder AB Raises Stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp $SBS

Handelsbanken Fonder AB lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) by 502.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,149,745 shares of the utilities provider’s stock after purchasing an additional 958,808 shares during the period. Handelsbanken Fonder AB’s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp were worth $6,646,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Paladin Wealth LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter worth about $133,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the second quarter valued at approximately $190,000. Gradient Investments LLC boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 423.2% in the second quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider’s stock valued at $5,693,000 after purchasing an additional 796,772 shares during the period. Balefire LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the second quarter worth approximately $109,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the second quarter worth approximately $61,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBS. Zacks Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Performance

Shares of SBS stock opened at $4.61 on Friday. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.99 and a beta of 0.68. The company’s 50 day moving average is $5.54 and its 200 day moving average is $75.40. The company has a quick ratio of 1.73, a current ratio of 1.74 and a debt-to-equity ratio of 1.07. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 52-week low of $4.18 and a 52-week high of $7.16.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last posted its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 14.49% and a net margin of 23.93%. On average, sell-side analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 EPS for the current fiscal year.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.