HSBC Holdings plc Lowers Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) to Hold

HSBC Holdings plc downgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) from a buy rating to a hold rating in a research report report published on Tuesday morning, MarketBeat Ratings reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a buy rating to a hold rating in a research report on Tuesday, July 18th. BidaskClub upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a buy rating to a strong-buy rating in a research report on Wednesday, August 2nd. ValuEngine upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a buy rating to a strong-buy rating in a research report on Tuesday, July 25th. Finally, Citigroup Inc. cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a neutral rating to a sell rating in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has an average rating of Hold and a consensus price target of $12.00.

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (SBS) traded up 1.07% during mid-day trading on Tuesday, hitting $10.41. The stock had a trading volume of 843,366 shares. The firm has a 50 day moving average price of $10.36 and a 200 day moving average price of $10.03. The firm has a market cap of $7.12 billion, a PE ratio of 7.44 and a beta of 1.77. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 52-week low of $7.76 and a 52-week high of $11.33.

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Several large investors have recently made changes to their positions in SBS. Schroder Investment Management Group raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 3,697.2% in the second quarter. Schroder Investment Management Group now owns 2,054,300 shares of the utilities provider’s stock valued at $19,207,000 after buying an additional 2,000,200 shares during the period. Morgan Stanley raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1,643.2% in the first quarter. Morgan Stanley now owns 2,012,329 shares of the utilities provider’s stock valued at $20,948,000 after buying an additional 1,896,888 shares during the period. Causeway Capital Management LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the first quarter valued at approximately $18,286,000. Nordea Investment Management AB raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 57.4% in the second quarter. Nordea Investment Management AB now owns 3,005,216 shares of the utilities provider’s stock valued at $28,610,000 after buying an additional 1,095,638 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 195.7% in the second quarter. Russell Investments Group Ltd. now owns 1,122,126 shares of the utilities provider’s stock valued at $10,683,000 after buying an additional 742,694 shares during the period. 15.00% of the stock is currently owned by institutional investors and hedge funds.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

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.