Ritholtz Wealth Management Reduces Stock Holdings in Ultrapar Participacoes S.A. (NYSE:UGP)

Ritholtz Wealth Management trimmed its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,615 shares of the oil and gas company's stock after selling 144,964 shares during the period. Ritholtz Wealth Management's holdings in Ultrapar Participacoes were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new stake in Ultrapar Participacoes in the 4th quarter worth approximately $29,000. Franklin Resources Inc. purchased a new stake in Ultrapar Participacoes in the fourth quarter worth $31,000. Wolverine Trading LLC bought a new stake in Ultrapar Participacoes in the fourth quarter valued at $35,000. Signaturefd LLC increased its position in Ultrapar Participacoes by 23.0% during the 4th quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company's stock valued at $52,000 after purchasing an additional 3,688 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Ultrapar Participacoes by 38.1% in the 4th quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company's stock worth $54,000 after purchasing an additional 5,687 shares in the last quarter. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ultrapar Participacoes currently has an average rating of "Moderate Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Stock Up 2.4%

NYSE:UGP traded up $0.08 during trading hours on Tuesday, reaching $3.17. 2,659,574 shares of the company traded hands, compared to its average volume of 1,736,032. The business's 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.91. The company has a current ratio of 1.76, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $3.53 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.03 and a beta of 1.03. Ultrapar Participacoes S.A. has a 1 year low of $2.53 and a 1 year high of $4.51.

About Ultrapar Participacoes

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.