QRG Capital Management Inc. Decreases Stake in Ultrapar Participações S.A. (NYSE:UGP)

QRG Capital Management Inc. trimmed its position in shares of Ultrapar Participações S.A. (NYSE:UGP) by 28.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,922 shares of the oil and gas company’s stock after selling 6,056 shares during the period. QRG Capital Management Inc.’s holdings in Ultrapar Participações were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UGP. Acadian Asset Management LLC increased its position in shares of Ultrapar Participações by 175.6% in the 1st quarter. Acadian Asset Management LLC now owns 3,471,048 shares of the oil and gas company’s stock valued at $19,850,000 after purchasing an additional 2,211,696 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Ultrapar Participações in the second quarter valued at $5,887,000. Marshall Wace LLP lifted its holdings in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after buying an additional 1,099,433 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Ultrapar Participações by 57.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after acquiring an additional 898,600 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Ultrapar Participações by 60.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 356,835 shares of the oil and gas company’s stock valued at $2,041,000 after acquiring an additional 133,791 shares during the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participações Price Performance

UGP stock opened at $3.56 on Wednesday. The business has a 50 day simple moving average of $3.83 and a 200-day simple moving average of $4.16. The company has a market capitalization of $3.97 billion, a P/E ratio of 6.85, a PEG ratio of 2.84 and a beta of 1.61. Ultrapar Participações S.A. has a twelve month low of $3.48 and a twelve month high of $6.34. The company has a current ratio of 1.55, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. HSBC upgraded shares of Ultrapar Participações from a “reduce” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Hsbc Global Res raised Ultrapar Participações from a “strong sell” rating to a “hold” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ultrapar Participações has a consensus rating of “Hold” and an average target price of $5.20.

About Ultrapar Participações

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.