Pitcairn Co. Purchases New Holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Pitcairn Co. purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,426 shares of the utilities provider’s stock, valued at approximately $1,016,000.

Several other institutional investors have also made changes to their positions in SBS. Sei Investments Co. acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter valued at approximately $563,000. Russell Investments Group Ltd. increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.3% during the first quarter. Russell Investments Group Ltd. now owns 53,214 shares of the utilities provider’s stock worth $896,000 after buying an additional 1,702 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth $470,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter worth $198,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 272,803 shares of the utilities provider’s stock worth $4,598,000 after buying an additional 16,457 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBS. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a report on Sunday, October 6th. StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Thursday, September 12th.

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

NYSE SBS opened at $16.90 on Monday. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 6.65 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a twelve month low of $13.10 and a twelve month high of $18.36. The stock has a fifty day simple moving average of $16.40 and a 200 day simple moving average of $15.82. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

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.