Utah Retirement Systems reduced its stake in shares of Union Pacific Co. (NYSE:UNP) by 5.4% in the first quarter, Holdings Channel reports. The fund owned 128,763 shares of the railroad operator’s stock after selling 7,400 shares during the quarter. Utah Retirement Systems’ holdings in Union Pacific were worth $28,380,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in UNP. Norges Bank bought a new position in shares of Union Pacific during the 4th quarter valued at approximately $1,403,262,000. Nuveen Asset Management LLC grew its position in shares of Union Pacific by 9.2% during the 1st quarter. Nuveen Asset Management LLC now owns 7,674,309 shares of the railroad operator’s stock valued at $1,691,494,000 after acquiring an additional 647,017 shares during the period. Putnam Investments LLC grew its position in shares of Union Pacific by 17.3% during the 1st quarter. Putnam Investments LLC now owns 3,806,894 shares of the railroad operator’s stock valued at $839,077,000 after acquiring an additional 560,628 shares during the period. Morgan Stanley boosted its holdings in Union Pacific by 10.6% in the 4th quarter. Morgan Stanley now owns 5,297,288 shares of the railroad operator’s stock worth $1,103,003,000 after buying an additional 509,251 shares during the period. Finally, BlackRock Inc. boosted its holdings in Union Pacific by 1.0% in the 1st quarter. BlackRock Inc. now owns 46,797,183 shares of the railroad operator’s stock worth $10,314,568,000 after buying an additional 444,914 shares during the period. 77.38% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on UNP. Loop Capital raised shares of Union Pacific from a “hold” rating to a “buy” rating and set a $269.00 price objective for the company in a report on Tuesday, July 6th. TD Securities raised their price objective on shares of Union Pacific from $240.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, April 23rd. Morgan Stanley raised their price objective on shares of Union Pacific from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 5th. Vertical Research began coverage on shares of Union Pacific in a report on Friday, March 26th. They issued a “buy” rating for the company. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Union Pacific in a report on Friday, July 9th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $233.27.
Union Pacific (NYSE:UNP) last posted its quarterly earnings data on Wednesday, April 21st. The railroad operator reported $2.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.06). The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Union Pacific had a net margin of 27.02% and a return on equity of 32.45%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 EPS. Research analysts forecast that Union Pacific Co. will post 9.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Friday, May 28th were given a dividend of $1.07 per share. The ex-dividend date was Thursday, May 27th. This represents a $4.28 annualized dividend and a dividend yield of 1.93%. This is a boost from Union Pacific’s previous quarterly dividend of $0.97. Union Pacific’s dividend payout ratio (DPR) is 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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