Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Stock Price Up 5%

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)’s stock price rose 5% during trading on Monday . The stock traded as high as $14.15 and last traded at $14.12. Approximately 417,587 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 877,396 shares. The stock had previously closed at $13.45.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

The company has a market cap of $9.58 billion, a PE ratio of 13.29 and a beta of 1.18. The business’s 50-day moving average is $14.73 and its 200 day moving average is $15.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.21 and a current ratio of 1.23.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last issued its earnings results on Friday, May 10th. The utilities provider reported $0.24 EPS for the quarter. The company had revenue of $1.33 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 13.62% and a return on equity of 12.14%.

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

The firm also recently announced an annual dividend, which will be paid on Friday, July 5th. Investors of record on Monday, April 29th will be given a $0.2808 dividend. This represents a yield of 1.4%. The ex-dividend date is Friday, April 26th. This is a boost 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 presently 19.81%.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of hedge funds have recently modified their holdings of SBS. Jane Street Group LLC increased its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 129.9% during the first quarter. Jane Street Group LLC now owns 332,201 shares of the utilities provider’s stock valued at $5,591,000 after buying an additional 187,706 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 272,803 shares of the utilities provider’s stock worth $4,598,000 after purchasing an additional 16,457 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the first quarter worth $198,000. Acadian Asset Management LLC bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth $470,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth $881,000. Hedge funds and other 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.