PNC Financial Services Group Inc. Has $164,000 Position in Ultrapar Participacoes S.A. $UGP

PNC Financial Services Group Inc. boosted its holdings in shares of Ultrapar Participacoes S.A. (NYSE:UGP) by 30.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,351 shares of the oil and gas company’s stock after purchasing an additional 12,480 shares during the period. PNC Financial Services Group Inc.’s holdings in Ultrapar Participacoes were worth $164,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV bought a new stake in shares of Ultrapar Participacoes during the fourth quarter worth $29,000. CWM LLC boosted its holdings in shares of Ultrapar Participacoes by 55.6% during the 1st quarter. CWM LLC now owns 9,463 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,380 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of Ultrapar Participacoes during the 4th quarter valued at $35,000. Wealthquest Corp bought a new stake in Ultrapar Participacoes during the 1st quarter worth $45,000. Finally, Ballentine Partners LLC acquired a new position in Ultrapar Participacoes in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

Analyst Upgrades and Downgrades

UGP has been the topic of a number of recent research reports. Scotiabank raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 28th. Wall Street Zen lowered shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Ultrapar Participacoes has an average rating of “Buy” and a consensus target price of $3.20.

Ultrapar Participacoes Stock Performance

Shares of Ultrapar Participacoes stock opened at $3.31 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. Ultrapar Participacoes S.A. has a twelve month low of $2.53 and a twelve month high of $4.51. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 3.26 and a beta of 1.05. The company’s fifty day moving average is $3.12 and its 200 day moving average is $3.02.

Ultrapar Participacoes Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a $0.0555 dividend. This represents a dividend yield of 360.0%. The ex-dividend date is Monday, August 25th. Ultrapar Participacoes’s payout ratio is 31.11%.

Ultrapar Participacoes Company Profile

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.