USS Investment Management Ltd cut its stake in Union Pacific Co. (NYSE:UNP) by 19.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 963,996 shares of the railroad operator’s stock after selling 239,834 shares during the period. Union Pacific comprises approximately 1.8% of USS Investment Management Ltd’s portfolio, making the stock its 18th largest position. USS Investment Management Ltd owned approximately 0.13% of Union Pacific worth $161,156,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in UNP. Oregon Public Employees Retirement Fund lifted its position in Union Pacific by 18,524.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,738,808 shares of the railroad operator’s stock valued at $237,000 after acquiring an additional 32,563,028 shares during the last quarter. Norges Bank purchased a new stake in Union Pacific in the fourth quarter valued at $1,036,317,000. Jennison Associates LLC lifted its position in Union Pacific by 450.0% in the fourth quarter. Jennison Associates LLC now owns 5,134,698 shares of the railroad operator’s stock valued at $709,769,000 after acquiring an additional 4,201,086 shares during the last quarter. Boston Partners lifted its position in Union Pacific by 192.1% in the fourth quarter. Boston Partners now owns 2,449,175 shares of the railroad operator’s stock valued at $338,550,000 after acquiring an additional 1,610,779 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Union Pacific by 1,646.9% in the fourth quarter. Commonwealth Bank of Australia now owns 1,370,614 shares of the railroad operator’s stock valued at $189,445,000 after purchasing an additional 1,292,152 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.
NYSE:UNP opened at $176.66 on Monday. Union Pacific Co. has a twelve month low of $126.37 and a twelve month high of $177.77. The stock has a market capitalization of $127.70 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 1.32.
Union Pacific declared that its board has authorized a stock buyback program on Thursday, February 7th that allows the company to repurchase 150,000,000 outstanding shares. This repurchase authorization allows the railroad operator to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were issued a dividend of $0.88 per share. This is an increase from Union Pacific’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $3.52 annualized dividend and a dividend yield of 1.99%. Union Pacific’s payout ratio is currently 44.50%.
In other Union Pacific news, EVP Robert M. Knight, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $170.01, for a total value of $1,700,100.00. Following the transaction, the executive vice president now owns 94,943 shares of the company’s stock, valued at $16,141,259.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd M. Rynaski sold 8,802 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.00, for a total value of $1,496,340.00. Following the completion of the transaction, the vice president now directly owns 19,731 shares in the company, valued at approximately $3,354,270. The disclosure for this sale can be found here. Corporate insiders own 9.96% of the company’s stock.
UNP has been the topic of a number of recent research reports. Royal Bank of Canada upgraded shares of Union Pacific from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Cowen restated a “buy” rating and issued a $187.00 price objective on shares of Union Pacific in a research note on Thursday. ValuEngine lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Zacks Investment Research lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, TD Securities upped their price target on shares of Union Pacific from $155.00 to $170.00 and gave the company a “hold” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $170.63.
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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