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

Key Points

• Wellington Management Group cut its Ultrapar Participacoes stake by 78.3% in the second quarter, selling 277,953 shares and retaining 76,972 shares valued at approximately $386,000.
• Analyst sentiment remains generally positive: UGP has a consensus rating of “Moderate Buy” and an average price target of $6.54, though recent targets and ratings were mixed.
• Ultrapar reported quarterly EPS of $0.28, slightly above estimates, on $8 billion in revenue. Shares opened at $7.46, near their 52-week high, while the company also announced a $0.1932 dividend.

Wellington Management Group LLP cut its stake in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 78.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,972 shares of the oil and gas company's stock after selling 277,953 shares during the period. Wellington Management Group LLP's holdings in Ultrapar Participacoes were worth $386,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in Ultrapar Participacoes by 45.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Ultrapar Participacoes in the 4th quarter worth about $32,000. R Squared Ltd purchased a new position in shares of Ultrapar Participacoes during the first quarter worth approximately $55,000. Allspring Global Investments Holdings LLC purchased a new position in Ultrapar Participacoes during the 1st quarter worth $62,000. Finally, GeoWealth Management LLC bought a new stake in shares of Ultrapar Participacoes in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 3.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on UGP shares. Weiss Ratings upgraded Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 14th. The Goldman Sachs Group dropped their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a "neutral" rating on the stock in a research report on Wednesday, August 26th. Bank of America raised shares of Ultrapar Participacoes from a "neutral" rating to a "buy" rating and raised their price target for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Finally, UBS Group lifted their price objective on shares of Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a "buy" rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.54.

Ultrapar Participacoes Trading Down 1.3%

Shares of NYSE:UGP opened at $7.46 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. Ultrapar Participacoes S.A. has a 52-week low of $3.60 and a 52-week high of $7.63. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.42 and a beta of 0.73. The business has a 50-day moving average price of $6.44 and a 200-day moving average price of $5.74.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last issued its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%.The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $8.18 billion. Equities analysts predict that Ultrapar Participacoes S.A. will post 0.84 EPS for the current year.

Ultrapar Participacoes Dividend Announcement

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

Insider Buying and Selling at Ultrapar Participacoes

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the completion of the transaction, the chief executive officer owned 151,432 shares of the company's stock, valued at $1,049,423.76. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Ultrapar Participacoes Profile

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.

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