Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Sees Significant Decrease in Short Interest

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 2,240,000 shares, a decline of 16.1% from the March 31st total of 2,670,000 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 913,600 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.5% in the 3rd quarter. Citigroup Inc. now owns 12,973 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 789 shares in the last quarter. Alpine Global Management LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth approximately $195,000. QRG Capital Management Inc. acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter worth approximately $125,000. PNC Financial Services Group Inc. boosted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% in the 3rd 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, Blue Trust Inc. grew 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 valued at $41,000 after acquiring an additional 2,042 shares in the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 report on Monday, April 22nd.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 2.7 %

SBS stock opened at $16.00 on Friday. 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 company has a market cap of $10.94 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.84 and a beta of 1.23. The business has a fifty day simple moving average of $16.02 and a 200-day simple moving average of $14.79. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52 week low of $8.75 and a 52 week high of $17.14.

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. Shareholders of record on Monday, April 29th will be paid a dividend of $0.2808 per share. The ex-dividend date of this dividend is Friday, April 26th. 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 yield of 1.4%. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio is currently 52.33%.

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.