Harvest Fund Management Co. Ltd lowered its holdings in shares of Union Pacific Co. (NYSE:UNP) by 19.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,611 shares of the railroad operator’s stock after selling 379 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Union Pacific were worth $360,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of UNP. Factorial Partners LLC purchased a new position in Union Pacific during the first quarter worth approximately $9,800,000. Nuveen Asset Management LLC boosted its position in Union Pacific by 9.2% during the first quarter. Nuveen Asset Management LLC now owns 7,674,309 shares of the railroad operator’s stock worth $1,691,494,000 after purchasing an additional 647,017 shares in the last quarter. Alliancebernstein L.P. boosted its position in Union Pacific by 31.0% during the second quarter. Alliancebernstein L.P. now owns 2,447,178 shares of the railroad operator’s stock worth $538,208,000 after purchasing an additional 579,000 shares in the last quarter. Putnam Investments LLC boosted its position in Union Pacific by 17.3% during the first quarter. Putnam Investments LLC now owns 3,806,894 shares of the railroad operator’s stock worth $839,077,000 after purchasing an additional 560,628 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in Union Pacific during the second quarter worth approximately $91,091,000. Institutional investors own 77.07% of the company’s stock.
Several equities analysts have recently weighed in on UNP shares. Credit Suisse Group raised their target price on Union Pacific from $260.00 to $264.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Benchmark lifted their price objective on Union Pacific from $242.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 23rd. Stifel Nicolaus began coverage on Union Pacific in a research report on Monday, June 21st. They set a “hold” rating on the stock. Evercore ISI reiterated a “buy” rating and set a $260.00 price objective on shares of Union Pacific in a research report on Friday, July 9th. Finally, Raymond James raised their target price on Union Pacific from $260.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $243.17.
Union Pacific (NYSE:UNP) last released its earnings results on Thursday, July 22nd. The railroad operator reported $2.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.17. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.39 billion. Union Pacific had a return on equity of 37.65% and a net margin of 28.60%. Union Pacific’s revenue was up 29.7% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. As a group, sell-side analysts expect that Union Pacific Co. will post 10.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Tuesday, August 31st will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, August 30th. This represents a $4.28 dividend on an annualized basis and a yield of 2.11%. Union Pacific’s dividend payout ratio (DPR) is presently 52.26%.
Union Pacific Profile
Union Pacific Corp. engages in the provision of railroad and freight transportation services. Its principal operating company, Union Pacific Railroad Co, operates as a railroad franchise. The Railroad’s diversified business mix includes agricultural products, automotive, chemicals, coal, industrial products, and intermodal.
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