Pinnacle Associates Ltd. Sells 2,435 Shares of Union Pacific Corporation (UNP)
Pinnacle Associates Ltd. lowered its stake in Union Pacific Corporation (NYSE:UNP) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 68,625 shares of the railroad operator’s stock after selling 2,435 shares during the period. Pinnacle Associates Ltd.’s holdings in Union Pacific Corporation were worth $7,269,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of UNP. Advantage Investment Management LLC boosted its stake in shares of Union Pacific Corporation by 263.7% in the first quarter. Advantage Investment Management LLC now owns 953 shares of the railroad operator’s stock valued at $101,000 after buying an additional 691 shares during the period. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Union Pacific Corporation by 96.3% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 1,021 shares of the railroad operator’s stock valued at $108,000 after buying an additional 501 shares during the period. Dubuque Bank & Trust Co. boosted its stake in shares of Union Pacific Corporation by 7.6% in the first quarter. Dubuque Bank & Trust Co. now owns 1,464 shares of the railroad operator’s stock valued at $155,000 after buying an additional 104 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Union Pacific Corporation by 8.5% in the first quarter. Arcadia Investment Management Corp MI now owns 1,635 shares of the railroad operator’s stock valued at $173,000 after buying an additional 128 shares during the period. Finally, Spectrum Asset Management Inc. NB CA purchased a new stake in shares of Union Pacific Corporation during the first quarter valued at about $201,000. 78.55% of the stock is currently owned by institutional investors and hedge funds.
Union Pacific Corporation (UNP) traded up 0.16% during trading on Friday, hitting $105.47. The stock had a trading volume of 2,347,736 shares. The firm has a 50 day moving average of $104.60 and a 200-day moving average of $107.38. Union Pacific Corporation has a one year low of $87.06 and a one year high of $115.15. The company has a market cap of $84.42 billion, a P/E ratio of 19.13 and a beta of 0.81. Union Pacific Corporation also was the recipient of some unusual options trading on Wednesday. Traders purchased 7,459 put options on the stock. This represents an increase of approximately 454% compared to the average volume of 1,346 put options.
Union Pacific Corporation (NYSE:UNP) last posted its quarterly earnings data on Thursday, July 20th. The railroad operator reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Union Pacific Corporation had a return on equity of 22.70% and a net margin of 21.79%. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Union Pacific Corporation will post $5.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a dividend of $0.605 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.42 annualized dividend and a yield of 2.29%. Union Pacific Corporation’s payout ratio is 43.84%.
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Several analysts have recently issued reports on UNP shares. Zacks Investment Research raised Union Pacific Corporation from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Thursday, July 13th. BMO Capital Markets reaffirmed a “buy” rating and set a $123.00 price objective on shares of Union Pacific Corporation in a report on Friday, June 2nd. Credit Suisse Group upped their price objective on Union Pacific Corporation from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, May 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $120.00 price objective on shares of Union Pacific Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $116.00 price objective on shares of Union Pacific Corporation in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Union Pacific Corporation presently has an average rating of “Hold” and a consensus target price of $113.22.
In related news, EVP Cameron A. Scott sold 17,604 shares of the business’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $107.60, for a total transaction of $1,894,190.40. Following the completion of the transaction, the executive vice president now directly owns 95,470 shares of the company’s stock, valued at approximately $10,272,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
About Union Pacific Corporation
Union Pacific Corporation is a railroad operating company in the United States. The Company operates through its principal operating company, Union Pacific Railroad Company (UPRR). Its business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Its freight traffic consists of bulk, manifest, and premium business.
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