Daiwa Securities Group Inc. Sells 17,000 Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Daiwa Securities Group Inc. trimmed its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 19.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 69,800 shares of the utilities provider’s stock after selling 17,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBS. Canada Pension Plan Investment Board bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter valued at about $2,967,000. FMR LLC increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 274.8% during the 3rd quarter. FMR LLC now owns 263,645 shares of the utilities provider’s stock worth $3,195,000 after purchasing an additional 193,300 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 70.8% during the 3rd quarter. Hsbc Holdings PLC now owns 241,077 shares of the utilities provider’s stock worth $2,921,000 after purchasing an additional 99,924 shares in the last quarter. Rhumbline Advisers increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 14.2% during the 3rd quarter. Rhumbline Advisers now owns 222,582 shares of the utilities provider’s stock worth $2,698,000 after purchasing an additional 27,594 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth approximately $323,000. 10.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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

Shares of SBS opened at $16.04 on Thursday. 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 stock has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $14.74. The firm has a market capitalization of $10.96 billion, a P/E ratio of 18.65, a P/E/G ratio of 0.86 and a beta of 1.23. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52 week low of $8.75 and a 52 week high of $17.14.

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. Stockholders of record on Monday, April 29th will be paid a $0.2808 dividend. This represents a dividend yield of 1.4%. The ex-dividend date 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. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s payout ratio is presently 26.74%.

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.