Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $23.24 and traded as high as $24.52. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $24.4770, with a volume of 1,418,719 shares traded.

Analyst Upgrades and Downgrades

SBS has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has a consensus rating of “Hold”.

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

The firm’s 50-day moving average price is $25.28 and its two-hundred day moving average price is $23.24. The stock has a market cap of $16.88 billion, a PE ratio of 13.55, a PEG ratio of 3.68 and a beta of 0.81. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its quarterly earnings data on Wednesday, November 12th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.27. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $1.07 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 22.32% and a return on equity of 16.08%. On average, equities analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 earnings per share for the current fiscal year.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, May 11th. Investors of record on Monday, December 29th will be paid a dividend of $0.4772 per share. The ex-dividend date is Monday, December 29th. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp’s dividend payout ratio is 40.33%.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 43.3% during the third quarter. JPMorgan Chase & Co. now owns 86,700 shares of the utilities provider’s stock valued at $2,158,000 after buying an additional 26,212 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 4.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 367,314 shares of the utilities provider’s stock worth $8,981,000 after buying an additional 15,700 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 3rd quarter worth approximately $500,000. Verition Fund Management LLC purchased a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the third quarter valued at approximately $1,955,000. Finally, Qube Research & Technologies Ltd lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 296.9% during the third quarter. Qube Research & Technologies Ltd now owns 445,786 shares of the utilities provider’s stock valued at $11,096,000 after acquiring an additional 333,463 shares during the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.