Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Short Interest Up 66.4% in July

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 24,149,215 shares, a growth of 66.4% from the July 15th total of 14,515,329 shares. Based on an average trading volume of 6,203,907 shares, the days-to-cover ratio is currently 3.9 days. Approximately 0.7% of the company’s stock are sold short.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 0.8%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp stock traded down $0.04 during trading hours on Tuesday, hitting $4.54. The company had a trading volume of 8,805,485 shares, compared to its average volume of 6,873,297. The company’s 50-day moving average is $5.52 and its two-hundred day moving average is $74.08. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $4.18 and a twelve month high of $7.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $15.99 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 3.92 and a beta of 0.68.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last announced its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.23 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 14.03% and a net margin of 23.93%. Analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Large investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% in the 2nd 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 during the period. WCM Investment Management LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 396.7% during the 1st quarter. WCM Investment Management LLC now owns 2,198,987 shares of the utilities provider’s stock worth $64,716,000 after purchasing an additional 1,756,304 shares during the period. Mackenzie Financial Corp boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,161,328 shares of the utilities provider’s stock worth $52,072,000 after purchasing an additional 48,214 shares during the period. Vanguard Group Inc. grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,094,992 shares of the utilities provider’s stock worth $49,966,000 after purchasing an additional 48,587 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 61.9% during the 4th quarter. Wellington Management Group LLP now owns 1,785,307 shares of the utilities provider’s stock worth $42,580,000 after purchasing an additional 682,699 shares during the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

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.