Impax Asset Management Group plc Cuts Stock Holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp $SBS

Impax Asset Management Group plc lowered its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) by 10.3% in the third quarter, Holdings Channel.com reports. The fund owned 8,202,920 shares of the utilities provider’s stock after selling 937,440 shares during the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp makes up approximately 1.2% of Impax Asset Management Group plc’s portfolio, making the stock its 25th biggest holding. Impax Asset Management Group plc’s holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp were worth $203,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of 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 worth $69,251,000 after purchasing an additional 1,116,681 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 444.8% during the 3rd quarter. Manning & Napier Advisors LLC now owns 3,089,290 shares of the utilities provider’s stock worth $76,892,000 after purchasing an additional 2,522,231 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 56.9% during the second quarter. American Century Companies Inc. now owns 2,008,471 shares of the utilities provider’s stock worth $44,126,000 after buying an additional 728,383 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 116.6% during the third 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 in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 0.8% in the second quarter. First Trust Advisors LP now owns 1,399,273 shares of the utilities provider’s stock valued at $30,742,000 after buying an additional 11,646 shares during the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Trading Up 1.6%

Shares of SBS stock opened at $29.05 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $15.70 and a twelve month high of $29.13. The company’s 50-day moving average price is $25.26 and its 200-day moving average price is $24.13. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 4.35 and a beta of 0.78.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its earnings results on Wednesday, November 12th. The utilities provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.27. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $1.07 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 22.32% and a return on equity of 16.08%. As a group, equities analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 earnings per share for the current year.

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

The company also recently declared a special dividend, which will be paid on Monday, May 11th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.4772 per share. The ex-dividend date is Monday, December 29th. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp’s dividend payout ratio (DPR) is currently 40.33%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBS shares. Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

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.