Bahl & Gaynor Inc. raised its stake in shares of Union Pacific Co. (NYSE:UNP) by 9.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 55,951 shares of the railroad operator’s stock after buying an additional 4,997 shares during the period. Bahl & Gaynor Inc.’s holdings in Union Pacific were worth $7,734,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its position in shares of Union Pacific by 2.1% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,565,386 shares of the railroad operator’s stock valued at $216,383,000 after acquiring an additional 32,255 shares during the period. Insight Wealth Strategies LLC acquired a new stake in Union Pacific in the 4th quarter worth about $1,574,000. Obermeyer Wood Investment Counsel Lllp boosted its holdings in Union Pacific by 1.7% in the 4th quarter. Obermeyer Wood Investment Counsel Lllp now owns 3,729 shares of the railroad operator’s stock worth $515,000 after buying an additional 61 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in Union Pacific by 2.5% in the 4th quarter. Standard Life Aberdeen plc now owns 397,015 shares of the railroad operator’s stock worth $54,447,000 after buying an additional 9,713 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its holdings in Union Pacific by 2.1% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 91,015 shares of the railroad operator’s stock worth $12,411,000 after buying an additional 1,887 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.
In other news, VP Todd M. Rynaski sold 8,802 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.00, for a total value of $1,496,340.00. Following the completion of the sale, the vice president now directly owns 19,731 shares of the company’s stock, valued at $3,354,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert M. Knight, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.01, for a total transaction of $1,700,100.00. Following the completion of the sale, the executive vice president now directly owns 94,943 shares of the company’s stock, valued at $16,141,259.43. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
Union Pacific (NYSE:UNP) last released its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.06. Union Pacific had a net margin of 26.13% and a return on equity of 27.95%. The company had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Union Pacific’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Union Pacific Co. will post 9 EPS for the current year.
Union Pacific announced that its Board of Directors has approved a share repurchase plan on Thursday, February 7th that allows the company to repurchase 150,000,000 shares. This repurchase authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Union Pacific’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, February 27th. Union Pacific’s dividend payout ratio is presently 44.50%.
Several analysts have recently commented on the stock. Citigroup lifted their price target on shares of Union Pacific from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Loop Capital lowered shares of Union Pacific from a “buy” rating to a “hold” rating and reduced their price target for the company from $193.00 to $182.00 in a research report on Tuesday, March 19th. ValuEngine lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Zacks Investment Research lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, TD Securities boosted their target price on Union Pacific from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, January 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Union Pacific presently has an average rating of “Buy” and a consensus target price of $170.16.
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About Union Pacific
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, engages in the railroad business in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, fertilizers, and food and beverage products; coal and sand, as well as petroleum, liquid petroleum gases, and renewables; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, and soda ash, as well as intermodal and finished vehicles.
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