Sumitomo Mitsui Trust Holdings Inc. Has $407,000 Stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) by 57.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,715 shares of the utilities provider’s stock after purchasing an additional 9,800 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP were worth $407,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBS. Citigroup Inc. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% during the third quarter. Citigroup Inc. now owns 12,973 shares of the utilities provider’s stock worth $157,000 after buying an additional 789 shares in the last quarter. Alpine Global Management LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter worth $195,000. QRG Capital Management Inc. bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the third quarter worth $125,000. PNC Financial Services Group Inc. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% during the third quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock worth $118,000 after buying an additional 857 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% during the fourth quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock worth $41,000 after buying an additional 2,042 shares in the last quarter. 10.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “hold” rating to a “buy” rating in a report on Monday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Down 1.1 %

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $15.86 on Friday. The company has a market capitalization of $10.84 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $16.04 and a 200 day simple moving average of $14.75. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12-month low of $8.75 and a 12-month high of $17.14.

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

The firm also recently disclosed an annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, April 29th will be paid a $0.2808 dividend. This represents a yield of 1.4%. The ex-dividend date is Friday, April 26th. This is an increase from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio is 26.74%.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Profile

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.