Connor Clark & Lunn Investment Management Ltd. Sells 52,850 Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp $SBS

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) by 16.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,373 shares of the utilities provider’s stock after selling 52,850 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp were worth $5,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group increased its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 166.0% in the 1st quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,394 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 42.7% in the second quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 552 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the first quarter worth $44,000. Headlands Technologies LLC bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 1st quarter valued at $54,000. Finally, Parallel Advisors LLC lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 88.2% during the 2nd quarter. Parallel Advisors LLC now owns 2,885 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,352 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBS shares. Zacks Research upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

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

Shares of NYSE SBS opened at $26.64 on Friday. The company has a market cap of $18.21 billion, a P/E ratio of 9.22 and a beta of 0.82. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 52-week low of $13.87 and a 52-week high of $26.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s fifty day moving average is $24.23 and its two-hundred day moving average is $21.95.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last released its quarterly earnings data on Monday, November 10th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.07 by $0.27. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 29.64% and a return on equity of 29.34%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 EPS for the current fiscal year.

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

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.