Wed Sep 25 08:13:30 UTC 2024: ## Hedge Funds Adjust Stakes in Ultrapar Participações Amid Mixed Analyst Sentiment

**New York, NY -** American Century Companies Inc. trimmed its stake in Brazilian energy and infrastructure company Ultrapar Participações S.A. (NYSE:UGP) by 6.8% during the second quarter, according to a recent SEC filing. The move comes amidst a period of mixed analyst sentiment and adjustments by other hedge funds.

American Century Companies Inc. now owns 1,449,974 shares of UGP, valued at $5,669,000. Other institutional investors also modified their holdings, with some increasing their positions. Acadian Asset Management LLC significantly boosted its stake by 175.6% in the first quarter, while Hennessy Advisors Inc. purchased a new stake in the second quarter. US Bancorp DE and O Shaughnessy Asset Management LLC also raised their stakes, while Longfellow Investment Management Co. LLC saw a 27.3% increase in the second quarter.

However, the overall institutional ownership in UGP remains relatively low at 3.58%.

Analyst sentiment towards UGP has been mixed. StockNews.com downgraded the stock to a “hold” from a “buy,” while Citigroup upgraded it to a “buy” from a “neutral.” HSBC also upgraded the stock to a “hold” from a “reduce,” while Goldman Sachs lowered its price target and maintained a “neutral” rating. Overall, five analysts rate the stock as a “hold” with one rating it as a “buy,” resulting in an average rating of “Hold” and a consensus target price of $5.20.

Despite the mixed sentiment, Ultrapar Participações reported strong second-quarter earnings, meeting analyst expectations with $0.08 earnings per share. The company also declared a semi-annual dividend of $0.0446 per share, representing a dividend yield of 2.7%.

Ultrapar Participações operates in Brazil’s energy and infrastructure sector, distributing liquefied petroleum gas, renewable electricity, and compressed natural gas. The company also distributes fuels and lubricants, operates convenience stores, and provides JetOil lubricant services.

While recent market activity and analyst opinions are mixed, the company continues to operate in a growing sector with strong financial performance. Investors will be watching closely to see how Ultrapar Participações navigates the current market landscape.

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