Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) gapped up prior to trading on Wednesday . The stock had previously closed at $8.95, but opened at $9.03. Companhia de Saneamento Basico do Estado de Sao Paulo shares last traded at $9.22, with a volume of 519,977 shares changing hands.

A number of brokerages have recently issued reports on SBS. Janney Montgomery Scott cut shares of Companhia de Saneamento Basico do Estado de Sao Paulo from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. cut shares of Companhia de Saneamento Basico do Estado de Sao Paulo from an “overweight” rating to a “neutral” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research raised shares of Companhia de Saneamento Basico do Estado de Sao Paulo from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research note on Tuesday, June 21st.

The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 16.43 and a beta of 2.07. The firm’s 50 day moving average is $9.13 and its 200 day moving average is $8.01.

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A number of institutional investors have recently modified their holdings of the stock. AXA increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 76.7% in the first quarter. AXA now owns 18,428 shares of the company’s stock valued at $121,000 after buying an additional 8,000 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 5.0% in the first quarter. Pictet Asset Management Ltd. now owns 107,775 shares of the company’s stock valued at $600,000 after buying an additional 5,097 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo during the first quarter valued at $268,000. UBS Asset Management Americas Inc. increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 162.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,573,955 shares of the company’s stock valued at $30,188,000 after buying an additional 2,829,346 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Companhia de Saneamento Basico do Estado de Sao Paulo by 5.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,873 shares of the company’s stock valued at $250,000 after buying an additional 1,855 shares in the last quarter. 16.31% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Basico do Estado de Sao Paulo Company Profile

Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a water and sewage service provider. The Company provides water and sewage services to a range of residential, commercial, industrial and governmental customers in over 360 municipalities in the state of Sao Paulo, including the city of Sao Paulo.

5 Day Chart for NYSE:SBS

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