Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research report released on Thursday morning.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 0.7 %

SBS stock opened at $16.91 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13. The company has a fifty day moving average price of $15.08 and a two-hundred day moving average price of $16.07. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a one year low of $13.10 and a one year high of $18.36. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 6.66 and a beta of 1.14.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,973 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 770 shares during the period. Advisors Asset Management Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% during the third quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock worth $60,000 after buying an additional 911 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 4.9% during the third quarter. Bleakley Financial Group LLC now owns 20,537 shares of the utilities provider’s stock worth $340,000 after buying an additional 956 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 0.9% in the fourth quarter. Rhumbline Advisers now owns 125,403 shares of the utilities provider’s stock worth $1,797,000 after acquiring an additional 1,165 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the third quarter. QRG Capital Management Inc. now owns 13,318 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 1,175 shares during the last quarter. 10.62% of the stock is owned by institutional investors.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.