2,716 Shares in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,716 shares of the utilities provider’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the second quarter worth $95,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 3,324 shares during the period. Inspire Advisors LLC acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter worth $166,000. Atomi Financial Group Inc. acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter worth $176,000. Finally, First Affirmative Financial Network grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 1,069 shares during the period. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 3.3 %

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $15.73 on Tuesday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $12.11 and a 1-year high of $18.36. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 13.33 and a beta of 1.16. The firm’s fifty day moving average price is $16.59 and its two-hundred day moving average price is $15.76. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.61.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 15.00% and a return on equity of 13.34%. The company had revenue of $1.30 billion for the quarter. On average, equities research analysts predict that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on SBS. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th. StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th.

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.