Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Increases Dividend to $0.28 Per Share

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) declared an annual dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Monday, April 29th will be given a dividend of 0.2808 per share by the utilities provider on Friday, July 5th. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change 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 has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Companhia de Saneamento Básico do Estado de São Paulo – SABESP to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 22.7%.

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

Shares of SBS stock traded down $0.25 on Friday, hitting $15.49. The company’s stock had a trading volume of 4,553,478 shares, compared to its average volume of 904,455. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.01. The stock’s 50 day moving average is $16.04 and its 200-day moving average is $14.62. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $8.75 and a fifty-two week high of $17.14. The company has a market capitalization of $10.59 billion, a PE ratio of 18.01, a PEG ratio of 0.82 and a beta of 1.23.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.0% during the second quarter. Citigroup Inc. now owns 12,184 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 1,400 shares during the period. Vident Investment Advisory LLC lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 22.2% during the fourth quarter. Vident Investment Advisory LLC now owns 13,321 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 2,423 shares during the period. Tower Research Capital LLC TRC lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 411.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,013 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 7,251 shares during the period. Atlas Capital Advisors LLC lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 11.2% during the second quarter. Atlas Capital Advisors LLC now owns 16,502 shares of the utilities provider’s stock worth $132,000 after purchasing an additional 1,660 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,995 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,381 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 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.