ULTRAPAR HOLDINGS INC.
boothcheck covers ULTRAPAR HOLDINGS INC. (UGP) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 28, 2026.
• Ultrapar is a Brazilian distribution conglomerate, built around Ipiranga fuel stations and Ultragaz LPG, that earns thin margins on enormous volume, a scale-and-logistics business rather than a high-margin one. • Profitability is recovering: Q1 2026 net income jumped to R$914 million from R$363 million a year earlier, with Ipiranga volume up 8% on a gradual market recovery [Source: Ultrapar Q1 2026 results, 2026]. • The risk to weigh is balance-sheet stress at the edges: the Hidrovias subsidia
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151 institutional managers reported holding UGP in 13F filings for the quarter ended 2026-03-31. Together they hold about 6% of the company; the top 10 hold 4%. 33 opened new positions that quarter. Held by Goldman Sachs, Morgan Stanley, BlackRock, among others. On the short side, 1.7M shares were sold short as of the 2026-06-15 count, about 0.1% of shares outstanding (1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UGP's share count grew 1.1% over the past five years. It pays a dividend. Cash returned over the past three years: $298.40M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.