Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a report published on Monday morning.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 1.1 %

Shares of SBS stock opened at $15.86 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1 year low of $8.75 and a 1 year high of $17.14. The firm’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $14.75. The firm has a market capitalization of $10.84 billion, a P/E ratio of 18.44, a PEG ratio of 0.85 and a beta of 1.23.

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

The company also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, April 29th will be given a $0.2808 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 26.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 46.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,257,167 shares of the utilities provider’s stock valued at $49,607,000 after acquiring an additional 1,034,319 shares during the period. Duff & Phelps Investment Management Co. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,375,000 shares of the utilities provider’s stock valued at $20,941,000 after acquiring an additional 125,000 shares during the period. Banco BTG Pactual S.A. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% in the 4th quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock valued at $13,929,000 after acquiring an additional 792,276 shares during the period. Kapitalo Investimentos Ltda grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 35.5% in the 4th quarter. Kapitalo Investimentos Ltda now owns 859,217 shares of the utilities provider’s stock valued at $13,086,000 after acquiring an additional 225,214 shares during the period. Finally, Perpetual Ltd grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.5% in the 1st quarter. Perpetual Ltd now owns 628,052 shares of the utilities provider’s stock valued at $10,570,000 after acquiring an additional 54,662 shares during the period. Institutional investors own 10.62% of the company’s stock.

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

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.