River & Mercantile Asset Management LLP purchased a new stake in shares of Union Pacific Co. (NYSE:UNP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 172 shares of the railroad operator’s stock, valued at approximately $29,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its stake in shares of Union Pacific by 1,957.4% during the second quarter. Nuveen Asset Management LLC now owns 8,164,209 shares of the railroad operator’s stock valued at $1,380,648,000 after purchasing an additional 7,767,384 shares in the last quarter. FMR LLC raised its position in Union Pacific by 29.1% in the first quarter. FMR LLC now owns 16,222,588 shares of the railroad operator’s stock worth $2,712,416,000 after acquiring an additional 3,653,756 shares in the last quarter. Invesco Ltd. raised its position in Union Pacific by 106.4% in the second quarter. Invesco Ltd. now owns 4,282,775 shares of the railroad operator’s stock worth $724,260,000 after acquiring an additional 2,207,908 shares in the last quarter. Soroban Capital Partners LP raised its position in Union Pacific by 69.6% in the second quarter. Soroban Capital Partners LP now owns 4,320,067 shares of the railroad operator’s stock worth $730,567,000 after acquiring an additional 1,772,727 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in Union Pacific by 17,755.2% in the second quarter. Thoroughbred Financial Services LLC now owns 798,662 shares of the railroad operator’s stock worth $79,866,000 after acquiring an additional 794,189 shares in the last quarter. 77.77% of the stock is owned by institutional investors.
In related news, EVP Robert M. Knight, Jr. sold 8,620 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $180.04, for a total value of $1,551,944.80. Following the completion of the sale, the executive vice president now directly owns 94,943 shares in the company, valued at approximately $17,093,537.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.96% of the company’s stock.
Union Pacific (NYSE:UNP) last released its earnings results on Thursday, July 18th. The railroad operator reported $2.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.10. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Union Pacific had a return on equity of 31.74% and a net margin of 26.95%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 EPS. On average, equities research analysts anticipate that Union Pacific Co. will post 8.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were paid a $0.97 dividend. This is a boost from Union Pacific’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, August 29th. This represents a $3.88 annualized dividend and a dividend yield of 2.40%. Union Pacific’s payout ratio is presently 49.05%.
Several equities research analysts have commented on the stock. Cowen reiterated a “buy” rating and issued a $184.00 price target on shares of Union Pacific in a research report on Thursday, July 18th. Morgan Stanley cut their price objective on Union Pacific from $140.00 to $138.00 and set an “underweight” rating on the stock in a report on Monday, October 7th. Raymond James set a $197.00 price objective on Union Pacific and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank boosted their price objective on Union Pacific from $197.00 to $206.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded Union Pacific from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $182.15.
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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