Glenview Trust Co Reduces Stake in United Parcel Service, Inc. (NYSE:UPS)
Glenview Trust Co lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,813 shares of the transportation company’s stock after selling 214 shares during the period. Glenview Trust Co’s holdings in United Parcel Service were worth $12,503,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its position in shares of United Parcel Service by 72.5% during the 3rd quarter. Boston Partners now owns 5,377,747 shares of the transportation company’s stock valued at $644,348,000 after purchasing an additional 2,260,831 shares during the last quarter. Hexavest Inc. purchased a new position in shares of United Parcel Service during the 4th quarter worth $48,144,000. State Street Corp boosted its stake in shares of United Parcel Service by 1.3% during the 4th quarter. State Street Corp now owns 28,483,717 shares of the transportation company’s stock worth $3,334,304,000 after acquiring an additional 375,783 shares during the last quarter. California Public Employees Retirement System grew its position in shares of United Parcel Service by 28.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,550,230 shares of the transportation company’s stock valued at $185,749,000 after acquiring an additional 345,972 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of United Parcel Service by 11.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,113,696 shares of the transportation company’s stock valued at $253,263,000 after acquiring an additional 214,047 shares during the period. 55.81% of the stock is owned by institutional investors.
A number of equities analysts recently commented on UPS shares. GMP Securities raised United Parcel Service to a “reduce” rating in a report on Monday, October 28th. Wells Fargo & Co cut their price target on United Parcel Service from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group restated a “buy” rating and issued a $130.00 price target on shares of United Parcel Service in a research report on Monday, February 3rd. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of United Parcel Service in a research report on Friday, January 31st. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $116.00 price objective (down previously from $122.00) on shares of United Parcel Service in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. United Parcel Service presently has a consensus rating of “Buy” and an average price target of $124.72.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.11 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.11. United Parcel Service had a return on equity of 156.11% and a net margin of 5.99%. The business had revenue of $20.57 billion during the quarter, compared to the consensus estimate of $20.66 billion. During the same period in the prior year, the company posted $1.94 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that United Parcel Service, Inc. will post 7.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 25th will be given a dividend of $1.01 per share. This is a positive change from United Parcel Service’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.82%. United Parcel Service’s dividend payout ratio is currently 51.00%.
About United Parcel Service
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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