Curbstone Financial Management Corp cut its position in Union Pacific Co. (NYSE:UNP) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,290 shares of the railroad operator’s stock after selling 190 shares during the quarter. Curbstone Financial Management Corp’s holdings in Union Pacific were worth $717,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in UNP. BlackRock Inc. boosted its stake in Union Pacific by 2.2% during the 4th quarter. BlackRock Inc. now owns 48,020,051 shares of the railroad operator’s stock valued at $6,637,811,000 after acquiring an additional 1,029,260 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Union Pacific by 18,524.9% during the 4th 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. Morgan Stanley boosted its stake in Union Pacific by 5.7% during the 3rd quarter. Morgan Stanley now owns 15,894,983 shares of the railroad operator’s stock valued at $2,588,181,000 after acquiring an additional 859,164 shares during the last quarter. Geode Capital Management LLC boosted its stake in Union Pacific by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 9,640,019 shares of the railroad operator’s stock valued at $1,330,401,000 after acquiring an additional 688,775 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Union Pacific by 3.4% during the 4th quarter. Northern Trust Corp now owns 8,284,737 shares of the railroad operator’s stock valued at $1,145,199,000 after acquiring an additional 270,547 shares during the last quarter. Institutional investors and hedge funds own 79.63% of the company’s stock.
Shares of NYSE:UNP opened at $177.22 on Friday. The firm has a market cap of $125.44 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. Union Pacific Co. has a 1-year low of $128.08 and a 1-year high of $179.55. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.74 and a current ratio of 0.75.
Union Pacific announced that its board has authorized a share buyback program on Thursday, February 7th that permits the company to repurchase 150,000,000 outstanding shares. This repurchase authorization permits the railroad operator to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 28th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Union Pacific’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, February 27th. Union Pacific’s dividend payout ratio is 44.50%.
In related news, EVP Rhonda S. Ferguson sold 11,485 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $175.00, for a total value of $2,009,875.00. Following the sale, the executive vice president now owns 53,858 shares of the company’s stock, valued at approximately $9,425,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd M. Rynaski sold 8,802 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.00, for a total transaction of $1,496,340.00. Following the completion of the sale, 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. Insiders have sold 30,287 shares of company stock worth $5,206,315 over the last three months. 9.96% of the stock is owned by corporate insiders.
A number of research analysts have commented on UNP shares. 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 reiterated an “outperform” rating and set a $187.00 price objective (up from $178.00) on shares of Union Pacific in a research note on Thursday, April 18th. ValuEngine downgraded shares of Union Pacific from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Raymond James increased their price objective on shares of Union Pacific from $192.00 to $201.00 and gave the company a “strong-buy” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research downgraded shares of Union Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $175.35.
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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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