Resources Management Corp CT ADV acquired a new stake in United Parcel Service, Inc. (NYSE:UPS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,078 shares of the transportation company’s stock, valued at approximately $5,281,000. United Parcel Service makes up 1.0% of Resources Management Corp CT ADV’s portfolio, making the stock its 28th biggest holding.
Other large investors also recently added to or reduced their stakes in the company. Centric Wealth Management boosted its holdings in United Parcel Service by 27.3% in the third quarter. Centric Wealth Management now owns 422,008 shares of the transportation company’s stock worth $48,632,000 after acquiring an additional 90,572 shares in the last quarter. Cypress Capital Management LLC bought a new position in shares of United Parcel Service in the second quarter valued at $7,798,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of United Parcel Service by 7.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 207,803 shares of the transportation company’s stock valued at $21,459,000 after buying an additional 13,743 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of United Parcel Service by 9.8% in the second quarter. Bank of Nova Scotia now owns 148,153 shares of the transportation company’s stock valued at $14,653,000 after buying an additional 13,206 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of United Parcel Service by 15.8% during the second quarter. Fisher Asset Management LLC now owns 49,269 shares of the transportation company’s stock valued at $5,088,000 after buying an additional 6,715 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.
Several research firms have recently commented on UPS. Bank of America boosted their target price on shares of United Parcel Service from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. UBS Group set a $136.00 price target on shares of United Parcel Service and gave the company a “buy” rating in a research report on Friday, November 1st. Loop Capital set a $140.00 price target on United Parcel Service and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. set a $135.00 price objective on United Parcel Service and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Daiwa Capital Markets raised United Parcel Service from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $121.99.
United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.01. United Parcel Service had a net margin of 6.81% and a return on equity of 154.80%. The firm had revenue of $18.32 billion for the quarter, compared to analysts’ expectations of $18.35 billion. During the same quarter last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that United Parcel Service, Inc. will post 7.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, November 15th. United Parcel Service’s payout ratio is 53.04%.
In related news, COO James J. Barber sold 1,500 shares of United Parcel Service stock in a transaction on Friday, November 1st. The stock was sold at an average price of $116.43, for a total transaction of $174,645.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
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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