Nexus Investment Management ULC Purchases 4,950 Shares of United Parcel Service, Inc. $UPS

Key Points

• Nexus Investment Management ULC has increased its stake in United Parcel Service, acquiring an additional 4,950 shares, bringing its total holdings to 217,331 shares, valued at approximately $21.9 million.
• Several other institutional investors, including Vanguard Group and Goldman Sachs, have also recently adjusted their positions in UPS, indicating a significant interest in the stock from large funds.
• United Parcel Service's recent earnings report showed a miss on EPS estimates but an increase in revenue, reflecting mixed performance amid a competitive market environment.

Nexus Investment Management ULC raised its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 217,331 shares of the transportation company's stock after purchasing an additional 4,950 shares during the quarter. United Parcel Service accounts for approximately 3.3% of Nexus Investment Management ULC's holdings, making the stock its 14th biggest position. Nexus Investment Management ULC's holdings in United Parcel Service were worth $21,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of United Parcel Service by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 66,136,226 shares of the transportation company's stock valued at $7,274,323,000 after acquiring an additional 999,832 shares during the period. Charles Schwab Investment Management Inc. lifted its position in United Parcel Service by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in United Parcel Service by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after purchasing an additional 4,988,044 shares during the period. Northern Trust Corp increased its position in United Parcel Service by 0.3% in the first quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock worth $815,633,000 after buying an additional 23,918 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in United Parcel Service by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,719,145 shares of the transportation company's stock worth $519,059,000 after buying an additional 171,303 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UPS. Wolfe Research lowered their price objective on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. JPMorgan Chase & Co. decreased their target price on shares of United Parcel Service from $96.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. Evercore ISI lowered their price target on shares of United Parcel Service from $103.00 to $97.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of United Parcel Service from $100.00 to $88.00 and set a "hold" rating for the company in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of United Parcel Service in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $109.31.

United Parcel Service Trading Up 0.9%

United Parcel Service stock opened at $83.97 on Wednesday. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01. The firm's 50 day moving average price is $85.65 and its 200-day moving average price is $93.97. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $71.17 billion, a P/E ratio of 12.50, a PEG ratio of 1.53 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The company had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business's revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. On average, equities analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Monday, August 18th. United Parcel Service's payout ratio is currently 97.62%.

Insider Activity at United Parcel Service

In other news, CEO Carol B. Tome acquired 11,682 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christiana Smith Shi bought 500 shares of the stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 17,182 shares of company stock valued at $1,477,382. Insiders own 0.13% of the company's stock.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.

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