Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Sees Significant Decrease in Short Interest

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 14,515,329 shares, a drop of 43.9% from the June 30th total of 25,870,594 shares. Based on an average daily volume of 4,998,783 shares, the short-interest ratio is presently 2.9 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBS shares. Zacks Research cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wall Street Zen raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Price Performance

SBS traded down $0.01 on Friday, reaching $5.46. The company had a trading volume of 6,117,195 shares, compared to its average volume of 6,650,337. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 52-week low of $3.79 and a 52-week high of $7.16. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 4.48 and a beta of 0.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.73 and a current ratio of 1.74. The business has a 50 day simple moving average of $5.62 and a 200 day simple moving average of $83.96.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 16.38% and a net margin of 24.25%.The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.28 billion. As a group, sell-side analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 EPS for the current year.

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

A number of large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% during the 1st quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock valued at $2,717,000 after purchasing an additional 118,237 shares during the last quarter. Cetera Investment Advisers lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% in the 2nd quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock worth $275,000 after buying an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock worth $1,329,000 after buying an additional 9,169 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider’s stock worth $1,099,000 after buying an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 22.6% in the second quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider’s stock worth $22,021,000 after buying an additional 184,486 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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.