Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,826 shares of the utilities provider’s stock after selling 1,317 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $454,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SBS. Blue Trust Inc. raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% during the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 2,042 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 921 shares during the last quarter. PNC Financial Services Group Inc. raised 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 acquiring an additional 857 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter valued at $125,000. Finally, SG Americas Securities LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at $130,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 0.9 %

Shares of SBS opened at $16.00 on Friday. The stock has a fifty day moving average of $16.03 and a two-hundred day moving average of $14.76. 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 company has a market capitalization of $10.93 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. 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.

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

The firm 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 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 payout ratio is 26.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “hold” rating to a “buy” rating in a report on Monday, April 22nd.

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