Companhia de Saneamento Bsc DEDSP (NYSE:SBS) Shares Gap Down to $13.73

Companhia de Saneamento Bsc DEDSP (NYSE:SBS) gapped down before the market opened on Thursday . The stock had previously closed at $14.26, but opened at $13.73. Companhia de Saneamento Bsc DEDSP shares last traded at $13.15, with a volume of 2,270,000 shares traded.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Companhia de Saneamento Bsc DEDSP from a “strong-buy” rating to a “sell” rating and set a $13.00 target price on the stock. in a research report on Tuesday, June 18th. ValuEngine lowered shares of Companhia de Saneamento Bsc DEDSP from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.00.

The stock’s 50-day moving average is $13.53 and its 200-day moving average is $11.66. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 12.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.00.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Companhia de Saneamento Bsc DEDSP by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 118,739 shares of the utilities provider’s stock valued at $958,000 after purchasing an additional 19,664 shares during the period. Geode Capital Management LLC raised its position in Companhia de Saneamento Bsc DEDSP by 70.1% in the fourth quarter. Geode Capital Management LLC now owns 263,303 shares of the utilities provider’s stock valued at $2,123,000 after purchasing an additional 108,533 shares during the period. Principal Financial Group Inc. raised its position in Companhia de Saneamento Bsc DEDSP by 8.0% in the fourth quarter. Principal Financial Group Inc. now owns 359,949 shares of the utilities provider’s stock valued at $2,905,000 after purchasing an additional 26,789 shares during the period. Norges Bank purchased a new stake in Companhia de Saneamento Bsc DEDSP in the fourth quarter valued at approximately $6,025,000. Finally, Deltec Asset Management LLC raised its position in Companhia de Saneamento Bsc DEDSP by 34.2% in the first quarter. Deltec Asset Management LLC now owns 19,600 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 13.56% of the company’s stock.

Companhia de Saneamento Bsc DEDSP Company Profile (NYSE:SBS)

Companhia de Saneamento Básico do Estado de São Paulo-SABESP provides basic and environmental sanitation services, and supplies treated water and sewage services on a wholesale basis to residential, commercial, industrial, and governmental customers in the state of São Paulo. It provides water supply, sanitary sewage, urban rainwater management and drainage, urban cleaning, and solid waste management services, as well as related activities, including the planning, operation, maintenance, and commercialization of energy.

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