Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Short Interest Down 16.1% in April

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

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Tuesday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

NYSE:SBS traded down $0.43 during mid-day trading on Tuesday, hitting $15.63. 601,506 shares of the stock were exchanged, compared to its average volume of 905,757. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The firm’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $14.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.01. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a fifty-two week low of $8.75 and a fifty-two week high of $17.14.

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

The business 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 dividend of $0.2808 per share. This represents a yield of 1.4%. 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. Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s dividend payout ratio (DPR) is 52.33%.

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

Hedge funds have recently added to or reduced their stakes in the stock. Pingora Partners LLC acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth about $30,000. Blue Trust Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 316.6% in the 4th quarter. Blue Trust Inc. now owns 2,687 shares of the utilities provider’s stock valued at $41,000 after buying an additional 2,042 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 921 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,698 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 857 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 3rd quarter valued at about $125,000. Institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company 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.