Wellington Management Group LLP Lowers Holdings in Ultrapar Participacoes S.A. $UGP

Wellington Management Group LLP trimmed its stake in shares of Ultrapar Participacoes S.A. (NYSE:UGP) by 78.3% during the 2nd quarter, Holdings Channel reports. The fund owned 76,972 shares of the oil and gas company’s stock after selling 277,953 shares during the quarter. Wellington Management Group LLP’s holdings in Ultrapar Participacoes were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Ultrapar Participacoes in the 4th quarter worth approximately $32,000. R Squared Ltd purchased a new stake in Ultrapar Participacoes in the 1st quarter worth approximately $55,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ultrapar Participacoes during the 1st quarter worth approximately $62,000. Finally, GeoWealth Management LLC acquired a new stake in shares of Ultrapar Participacoes during the 4th quarter worth approximately $44,000. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UGP has been the subject of several analyst reports. Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.80 to $7.40 in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. The Goldman Sachs Group cut their price objective on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating for the company in a report on Wednesday, August 26th. Finally, UBS Group upped their price objective on shares of Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a “buy” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Stock Performance

Shares of NYSE:UGP opened at $7.46 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26. Ultrapar Participacoes S.A. has a 1 year low of $3.60 and a 1 year high of $7.63. The firm has a market capitalization of $8.32 billion, a PE ratio of 12.23, a P/E/G ratio of 0.42 and a beta of 0.73. The business’s 50 day moving average price is $6.44 and its 200-day moving average price is $5.74.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $8.18 billion. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. As a group, equities research analysts expect that Ultrapar Participacoes S.A. will post 0.84 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.1932 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a dividend yield of 599.0%. Ultrapar Participacoes’s dividend payout ratio is presently 50.82%.

Insider Activity at Ultrapar Participacoes

In other news, CEO Decio De Sampaio Amaral sold 8,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total value of $55,440.00. Following the completion of the sale, the chief executive officer directly owned 151,432 shares in the company, valued at $1,049,423.76. This represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with operations focused on fuel distribution, liquefied petroleum gas and bulk liquid storage. The company traces its origins to 1937, when it was established as Companhia Brasileira de Gás a Domicílio, the predecessor of Ultragaz. Ultrapar’s American depositary shares trade on the New York Stock Exchange under the symbol UGP.

Its principal businesses include Ipiranga, a fuel distribution company that supplies gasoline, ethanol, diesel and other fuels through a nationwide network of service stations.