Kentucky Retirement Systems acquired a new stake in Union Pacific Co. (NYSE:UNP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 38,683 shares of the railroad operator’s stock, valued at approximately $8,508,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC boosted its position in shares of Union Pacific by 21.1% during the 1st quarter. Rafferty Asset Management LLC now owns 26,022 shares of the railroad operator’s stock worth $5,736,000 after acquiring an additional 4,526 shares in the last quarter. Strategic Blueprint LLC boosted its holdings in Union Pacific by 7.5% in the first quarter. Strategic Blueprint LLC now owns 4,144 shares of the railroad operator’s stock valued at $913,000 after purchasing an additional 289 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Union Pacific by 22.8% in the first quarter. Wasatch Advisors Inc. now owns 17,800 shares of the railroad operator’s stock valued at $3,923,000 after purchasing an additional 3,300 shares during the last quarter. Wrapmanager Inc. raised its holdings in Union Pacific by 72.6% during the first quarter. Wrapmanager Inc. now owns 2,477 shares of the railroad operator’s stock worth $546,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Bank of The West lifted its position in shares of Union Pacific by 30.4% during the 1st quarter. Bank of The West now owns 27,491 shares of the railroad operator’s stock worth $6,059,000 after buying an additional 6,407 shares during the last quarter. 77.07% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on UNP. Atlantic Securities started coverage on shares of Union Pacific in a research note on Monday, July 12th. They set an “overweight” rating and a $263.00 price target on the stock. Evercore ISI reiterated a “buy” rating and set a $228.00 target price on shares of Union Pacific in a research report on Friday. Benchmark upped their target price on Union Pacific from $242.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. Loop Capital cut their price target on Union Pacific from $270.00 to $252.00 and set a “buy” rating on the stock in a research report on Tuesday, September 14th. Finally, Raymond James increased their price objective on Union Pacific from $260.00 to $265.00 and gave the company a “strong-buy” rating in a report on Friday, July 23rd. Six investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $241.39.
Union Pacific (NYSE:UNP) last announced its quarterly earnings data on Thursday, July 22nd. The railroad operator reported $2.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.17. The company had revenue of $5.50 billion for 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%. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. Research analysts expect that Union Pacific Co. will post 10.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Tuesday, August 31st will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, August 30th. Union Pacific’s payout ratio is 52.26%.
Union Pacific Company 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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