Investment Management Corp of Ontario Boosts Holdings in United Parcel Service, Inc. (NYSE:UPS)

Investment Management Corp of Ontario raised its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 49.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 24,176 shares of the transportation company’s stock after buying an additional 8,000 shares during the period. Investment Management Corp of Ontario’s holdings in United Parcel Service were worth $3,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. TruNorth Capital Management LLC acquired a new position in United Parcel Service in the second quarter valued at approximately $28,000. True Wealth Design LLC boosted its holdings in United Parcel Service by 397.7% during the third quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock worth $29,000 after buying an additional 171 shares in the last quarter. Riverview Trust Co acquired a new stake in United Parcel Service during the second quarter valued at $32,000. Centerpoint Advisors LLC increased its holdings in United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after buying an additional 175 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its position in shares of United Parcel Service by 720.0% in the third quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company’s stock worth $34,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Argus upgraded United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Susquehanna upped their target price on United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Barclays reissued an “underweight” rating and issued a $120.00 price target on shares of United Parcel Service in a research note on Monday, October 21st. Evercore ISI upped their price objective on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen assumed coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.52.

United Parcel Service Trading Down 3.2 %

Shares of UPS opened at $129.71 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $133.66 and a 200 day moving average price of $133.42. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The firm has a market capitalization of $110.69 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.20 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter last year, the firm earned $1.57 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that United Parcel Service, Inc. will post 7.48 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

Insider Transactions at United Parcel Service

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the sale, the insider now directly owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. The trade was a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

United Parcel Service Company Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.