Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Hits New 52-Week High – Here’s What Happened

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) hit a new 52-week high during trading on Monday . The company traded as high as $34.77 and last traded at $34.6450, with a volume of 279832 shares changing hands. The stock had previously closed at $33.85.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBS. Weiss Ratings raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, March 17th. Jefferies Financial Group began coverage on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Thursday, March 19th. They set a “buy” rating and a $36.60 target price for the company. Finally, Zacks Research cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Trading Up 3.6%

The stock’s 50 day moving average price is $29.84 and its 200-day moving average price is $26.70. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $24.67 billion, a PE ratio of 16.03, a PEG ratio of 5.19 and a beta of 0.75.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last posted its earnings results on Saturday, February 14th. The utilities provider reported $0.71 earnings per share for the quarter. The company had revenue of $1.03 billion during the quarter. 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%. On average, sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 earnings per share for the current fiscal year.

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

The business also recently announced a special dividend, which will be paid on Monday, May 11th. Investors of record on Friday, March 27th will be paid 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 presently 4.57%.

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

Several institutional investors have recently bought and sold shares of SBS. Manning & Napier Advisors LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 444.8% during the third quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider’s stock valued at $76,892,000 after acquiring an additional 2,522,231 shares in 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 during the fourth quarter valued at $37,053,000. Bank of America Corp DE grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% during the second quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider’s stock valued at $69,251,000 after acquiring an additional 1,116,681 shares in the last quarter. Wellington Management Group LLP purchased a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the third quarter valued at $27,444,000. Finally, UBS Group AG grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 248.9% during the fourth quarter. UBS Group AG now owns 968,096 shares of the utilities provider’s stock valued at $23,089,000 after acquiring an additional 690,636 shares in the last quarter. 10.62% of the stock is owned by hedge funds and other institutional investors.

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.