Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research note issued to investors on Monday.

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

NYSE:SBS opened at $16.04 on Monday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1 year low of $8.75 and a 1 year high of $17.14. The firm’s fifty day simple moving average is $16.03 and its 200 day simple moving average is $14.74. 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 firm has a market capitalization of $10.96 billion, a PE ratio of 18.65, 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 business also recently declared an annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, April 29th will be issued a $0.2808 dividend. The ex-dividend date of this dividend is Friday, April 26th. This is an increase from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. This represents a yield of 1.4%. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio is 26.74%.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Hedge funds have recently bought and sold shares of the stock. Pingora Partners LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at $30,000. Blue Trust Inc. boosted its holdings 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 valued at $41,000 after purchasing an additional 2,042 shares during the period. Van ECK Associates Corp boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 921 shares during the period. PNC Financial Services Group Inc. boosted its holdings 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 valued at $118,000 after purchasing an additional 857 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth about $125,000. 10.62% of the stock is owned by institutional investors.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

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.