Coronation Fund Managers Ltd. Lowers Holdings in Union Pacific Co. (UNP)

Coronation Fund Managers Ltd. lessened its position in shares of Union Pacific Co. (NYSE:UNP) by 55.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,632 shares of the railroad operator’s stock after selling 22,947 shares during the period. Coronation Fund Managers Ltd.’s holdings in Union Pacific were worth $3,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Obermeyer Wood Investment Counsel Lllp grew its holdings in shares of 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 valued at $515,000 after acquiring an additional 61 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its holdings in shares of Union Pacific by 1.2% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 5,443 shares of the railroad operator’s stock valued at $752,000 after acquiring an additional 65 shares in the last quarter. Weatherstone Capital Management grew its holdings in shares of Union Pacific by 3.1% in the 1st quarter. Weatherstone Capital Management now owns 2,172 shares of the railroad operator’s stock valued at $363,000 after acquiring an additional 66 shares in the last quarter. Howe & Rusling Inc. grew its holdings in Union Pacific by 25.4% during the fourth quarter. Howe & Rusling Inc. now owns 346 shares of the railroad operator’s stock worth $48,000 after purchasing an additional 70 shares during the period. Finally, Cozad Asset Management Inc. grew its holdings in Union Pacific by 1.2% during the first quarter. Cozad Asset Management Inc. now owns 5,853 shares of the railroad operator’s stock worth $979,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 81.28% of the company’s stock.

Shares of UNP stock opened at $174.62 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.75 and a quick ratio of 0.60. The company has a market cap of $123.60 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.92 and a beta of 1.11. Union Pacific Co. has a 12-month low of $128.08 and a 12-month high of $180.02.

Union Pacific (NYSE:UNP) last issued its quarterly earnings data on Thursday, April 18th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.51 billion. Union Pacific had a net margin of 26.59% and a return on equity of 30.73%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. On average, sell-side analysts anticipate that Union Pacific Co. will post 9.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.52 annualized dividend and a yield of 2.02%. Union Pacific’s dividend payout ratio (DPR) is presently 44.50%.

Union Pacific announced that its Board of Directors has initiated a stock buyback program on Thursday, February 7th that authorizes the company to buyback 150,000,000 shares. This buyback authorization authorizes the railroad operator to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of equities analysts recently commented on UNP shares. Zacks Investment Research cut Union Pacific from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. TD Securities lifted their price target on Union Pacific from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Loop Capital lifted their price target on Union Pacific from $188.00 to $193.00 and gave the stock a “positive” rating in a report on Thursday, January 24th. Argus lifted their price target on Union Pacific to $175.00 and gave the stock a “positive” rating in a report on Friday, January 25th. Finally, Cowen reiterated a “buy” rating on shares of Union Pacific in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $175.35.

In other Union Pacific news, EVP Robert M. Knight, Jr. sold 1,380 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $180.01, for a total transaction of $248,413.80. Following the completion of the sale, the executive vice president now directly owns 94,943 shares in the company, valued at $17,090,689.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd M. Rynaski sold 8,802 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now owns 19,731 shares of the company’s stock, valued at $3,354,270. The disclosure for this sale can be found here. Insiders have sold 31,667 shares of company stock valued at $5,454,729 over the last 90 days. Company insiders own 9.96% of the company’s stock.

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Union Pacific Profile

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.

Read More: Retained Earnings

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Institutional Ownership by Quarter for Union Pacific (NYSE:UNP)

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