Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up to $15.49

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $15.49, but opened at $16.14. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $15.98, with a volume of 1,303,340 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “hold” rating to a “buy” rating in a research note on Monday.

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

The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average is $16.02 and its two-hundred day moving average is $14.71. The company has a market capitalization of $11.03 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23.

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

The company also recently declared an annual dividend, which will be paid on Friday, July 5th. Investors of record on Monday, April 29th will be given a dividend of $0.2808 per share. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 26th. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio (DPR) is presently 26.74%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SBS. Pingora Partners LLC bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter valued at about $30,000. Blue Trust Inc. raised its position in 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 period. Van ECK Associates Corp raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% in the third quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 921 shares during the period. PNC Financial Services Group Inc. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the third quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 857 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the third quarter worth about $125,000. 10.62% of the stock is owned by 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.