Zacks Research Upgrades Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) to Strong-Buy

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 4.0%

SBS stock opened at $27.48 on Wednesday. The stock has a market capitalization of $19.34 billion, a P/E ratio of 15.21, a PEG ratio of 5.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.17. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a one year low of $16.11 and a one year high of $30.63. The company has a 50 day moving average price of $27.11 and a two-hundred day moving average price of $25.37.

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

Several institutional investors and hedge funds have recently bought and sold shares of SBS. Manning & Napier Advisors LLC boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 444.8% in the 3rd quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider’s stock valued at $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 stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter valued at $37,053,000. Bank of America Corp DE increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% during the 2nd quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider’s stock worth $69,251,000 after buying an additional 1,116,681 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 3rd quarter worth $27,444,000. Finally, Perpetual Ltd raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 116.6% in the 3rd quarter. Perpetual Ltd now owns 1,719,250 shares of the utilities provider’s stock worth $42,792,000 after buying an additional 925,684 shares during the period. Institutional investors and hedge funds 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.