Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE: SBS) Update on Short Rates
Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE: SBS) benefited from a sharp increase in short-term interest in May. As of May 14, there was short interest totaling 6,490,000 shares, an increase of 29.3% from the total of 5,020,000 shares as of April 29. Currently 1.0% of the company’s shares are sold short. Based on an average daily volume of 1,750,000 shares, the day / hedge ratio is currently 3.7 days.
A number of institutional investors have recently bought and sold shares in the company. Pendal Group Limited acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the first quarter valued at approximately $ 4,374,000. Principal Financial Group Inc. increased its stake in the shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 149,639 shares of the utility company valued at $ 1,097,000 after purchasing an additional 10,371 shares in the last quarter. Colony Group LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 1st quarter for a value of approximately $ 117,000. Millennium Management LLC increased its stake in the shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 71.6% during the 1st quarter. Millennium Management LLC now owns 941,103 shares of the utility’s stock valued at $ 6,898,000 after purchasing an additional 392,563 shares during the last quarter. Finally, Amundi Asset Management US Inc. increased its stake in the shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 257.3% during the first quarter. Amundi Asset Management US Inc. now owns 5,218,710 shares of the utility provider valued at $ 38,236,000 after purchasing an additional 3,758,256 shares in the last quarter. 13.23% of the stock is held by institutional investors.
In addition, JPMorgan Chase & Co. raised the Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “neutral” rating to an “overweight” rating in a research report published on Wednesday February 24th. One equity research analyst rated the stock with a sustaining rating and three gave the company’s stock a buy rating. The stock currently has an average rating of “Buy”.
Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock traded down $ 0.08 at midday Tuesday, reaching $ 7.61. 31,940 shares of the company were traded, for an average volume of 1,861,228. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12-month minimum of $ 6.05 and a 12-month maximum of 12, $ 32. The company’s 50-day simple moving average is $ 7.77 and its two-hundred-day simple moving average is $ 7.82. The company has a debt ratio of 0.59, a quick ratio of 1.00, and a current ratio of 1.01. The company has a market cap of $ 5.20 billion, a PE ratio of 13.26 and a beta of 1.04.
Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE: SBS) last released its quarterly earnings data on Friday, March 26. The utility company reported earnings of $ 0.23 per share for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 12.07% and a net margin of 11.54%. The company reported sales of $ 905.45 million in the quarter.
The company also recently unveiled an annual dividend, which will be paid on Thursday, July 8. Shareholders of record on Monday, May 3 will receive a dividend of $ 0.0714 per share. The ex-dividend date of this dividend is Friday April 30. This represents a yield of 2.7%.
Companhia de Saneamento Básico do Estado de São Paulo – Company profile SABESP
Companhia de Saneamento BÃ¡sico do Estado de São Paulo – SABESP provides water and sewage services to residential, commercial, industrial and government customers. It provides water supply, sanitary sewer, urban storm water management and drainage, urban cleaning and solid waste management services, as well as related activities including planning, operation, maintenance and marketing of energy.
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7 actions to watch out for when student debt forgiveness is adopted
Now that the Biden administration is fully in charge, student debt cancellation has come to the fore. Consider these numbers. Student debt is estimated at $ 1.7 trillion. The average student carries around $ 30,000 in student loans.
If $ 10,000 in student debt were to be forgiven, it is estimated that one-third of borrowers (between $ 15 million and $ 16.3 million) would become debt-free. Of course, if the number reaches $ 50,000, as some lawmakers suggest, the impact would be even greater.
Putting aside personal reflections on the wisdom of going this route, it has the potential to trigger a substantial stimulus in the economy.
And as an investor, it’s fair to ask where this money would go. After all, there is nothing wrong with passing this stimulus on to investors.
A counter-argument is that the absence of a monthly payment may not provide enough money to have an impact. However, Senator Elizabeth Warren spoke about the effect of student loans in preventing many generations of millennials and millennials from pursuing holistic life goals such as buying a home, creating a business or the creation of a family.
With that in mind, we’ve prepared this special presentation that looks at 7 actions that could benefit if borrowers are freed from the burden of student loans.
Check out the “7 Actions to Watch Out For When Student Debt Remission Is Over.”