Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up – Time to Buy?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) gapped up prior to trading on Tuesday . The stock had previously closed at $17.22, but opened at $17.69. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $17.74, with a volume of 122,787 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 4.6 %

The business has a 50-day moving average of $16.57 and a 200-day moving average of $16.09. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 7.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at $26,000. J.Safra Asset Management Corp acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth about $54,000. Advisors Asset Management Inc. grew its holdings in shares of 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 during the last quarter. R Squared Ltd acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at about $66,000. Finally, Signaturefd LLC increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 25.9% in the 4th quarter. Signaturefd LLC now owns 9,305 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 1,917 shares during the period. 10.62% of the stock is owned by institutional investors and hedge funds.

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.