BlackRock Inc. lowered its holdings in Ultrapar Participacoes SA (NYSE:UGP) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,957,183 shares of the oil and gas company’s stock after selling 100,539 shares during the quarter. BlackRock Inc. owned 0.35% of Ultrapar Participacoes worth $26,501,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Federated Investors Inc. PA acquired a new position in Ultrapar Participacoes in the third quarter valued at about $40,000. Quadrant Capital Group LLC boosted its position in Ultrapar Participacoes by 711.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,867 shares of the oil and gas company’s stock valued at $77,000 after buying an additional 5,144 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Ultrapar Participacoes by 92.3% in the third quarter. Panagora Asset Management Inc. now owns 19,957 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 9,581 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Ultrapar Participacoes in the fourth quarter valued at about $208,000. Finally, Jane Street Group LLC acquired a new position in Ultrapar Participacoes in the third quarter valued at about $219,000. Hedge funds and other institutional investors own 4.29% of the company’s stock.
A number of brokerages have recently issued reports on UGP. Zacks Investment Research upgraded shares of Ultrapar Participacoes from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Saturday, February 2nd. ValuEngine lowered shares of Ultrapar Participacoes from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ultrapar Participacoes in a research report on Friday, March 22nd. Finally, Credit Suisse Group upgraded shares of Ultrapar Participacoes from an “underperform” rating to a “neutral” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.00.
Ultrapar Participacoes (NYSE:UGP) last announced its earnings results on Wednesday, February 20th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter. Ultrapar Participacoes had a net margin of 1.23% and a return on equity of 11.47%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities research analysts forecast that Ultrapar Participacoes SA will post 0.16 earnings per share for the current fiscal year.
About Ultrapar Participacoes
Ultrapar Participações SA engages in gas distribution, fuel distribution, chemicals, storage, and drugstores businesses in Brazil, Mexico, United Stated, Uruguay, and Venezuela. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers, primarily in the South, Southeast, and Northeast regions of Brazil.
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