Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded 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 report released on Monday morning.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 3.4 %

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $16.01 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.01. The firm has a 50 day moving average price of $16.02 and a 200 day moving average price of $14.71. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $8.75 and a fifty-two week high of $17.14. The company has a market capitalization of $10.94 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.82 and a beta of 1.23.

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

The company also recently announced an annual dividend, which will be paid on Friday, July 5th. Investors of record on Monday, April 29th will be paid a dividend of $0.2808 per share. 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 dividend payout ratio is presently 25.58%.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several institutional investors have recently bought and sold shares of the company. Pingora Partners LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter valued at approximately $30,000. Blue Trust Inc. boosted 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 valued at $41,000 after buying an additional 2,042 shares during the period. Van ECK Associates Corp grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% in the third quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 921 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth $130,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% during the third quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 857 shares during the period. 10.62% of the stock is owned by institutional investors and hedge funds.

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.