Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Sees Strong Trading Volume

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) saw unusually-high trading volume on Wednesday . Approximately 2,317,574 shares were traded during mid-day trading, an increase of 154% from the previous session’s volume of 910,724 shares.The stock last traded at $15.71 and had previously closed at $15.48.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

The stock has a 50-day simple moving average of $14.53 and a 200 day simple moving average of $15.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 1.21. The company has a market capitalization of $10.44 billion, a PE ratio of 14.41 and a beta of 1.18.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last posted its earnings results on Friday, May 10th. The utilities provider reported $0.24 EPS for the quarter. The company had revenue of $1.33 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 12.14% and a net margin of 13.62%.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, April 29th were given a dividend of $0.2808 per share. This represents a yield of 1.4%. This is an increase from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. The ex-dividend date was Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s payout ratio is presently 19.81%.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of institutional investors have recently bought and sold shares of SBS. Pingora Partners LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth $30,000. Blue Trust Inc. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% in the fourth quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 2,042 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth $130,000. First Affirmative Financial Network raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after acquiring an additional 1,069 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth $152,000. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

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

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.