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

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.81 and traded as high as $29.85. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $28.9950, with a volume of 754,170 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SBS shares. Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Weiss Ratings raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group initiated coverage on Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Thursday, March 19th. They issued a “buy” rating and a $36.60 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a consensus rating of “Strong Buy” and a consensus price target of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 2.9%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.83. The firm has a market cap of $20.40 billion, a PE ratio of 13.26, a P/E/G ratio of 5.91 and a beta of 0.78. The business’s 50-day simple moving average is $28.05 and its 200 day simple moving average is $25.81.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last announced its quarterly earnings results on Tuesday, March 17th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 23.64% and a return on equity of 15.76%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, equities research analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 earnings per share for the current year.

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

The business also recently announced a special dividend, which will be paid on Monday, May 11th. Shareholders of record on Friday, March 27th will be given a dividend of $0.4772 per share. This represents a yield of 55.0%. The ex-dividend date of this dividend is Friday, March 27th. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Manning & Napier Advisors LLC lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 444.8% during the 3rd quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider’s stock worth $76,892,000 after purchasing an additional 2,522,231 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the fourth quarter valued at about $37,053,000. Bank of America Corp DE raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% in the second quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider’s stock worth $69,251,000 after purchasing an additional 1,116,681 shares in the last quarter. Wellington Management Group LLP bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the third quarter worth about $27,444,000. Finally, Perpetual Ltd lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 116.6% during the third quarter. Perpetual Ltd now owns 1,719,250 shares of the utilities provider’s stock valued at $42,792,000 after buying an additional 925,684 shares during the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

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.