Montecito Bank & Trust Has $1.07 Million Holdings in Union Pacific Co. (UNP)
Montecito Bank & Trust boosted its position in Union Pacific Co. (NYSE:UNP) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,184 shares of the railroad operator’s stock after purchasing an additional 910 shares during the period. Montecito Bank & Trust’s holdings in Union Pacific were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Legacy Inc. purchased a new position in shares of Union Pacific during the first quarter worth approximately $532,000. Northwestern Mutual Investment Management Company LLC increased its holdings in Union Pacific by 73.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 164,503 shares of the railroad operator’s stock valued at $17,424,000 after buying an additional 69,871 shares during the period. Goodman Financial Corp increased its holdings in Union Pacific by 1.5% during the first quarter. Goodman Financial Corp now owns 51,337 shares of the railroad operator’s stock valued at $5,438,000 after buying an additional 761 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Union Pacific by 0.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 81,162 shares of the railroad operator’s stock valued at $8,597,000 after buying an additional 370 shares during the period. Finally, Tiedemann Wealth Management LLC increased its holdings in Union Pacific by 88.4% during the first quarter. Tiedemann Wealth Management LLC now owns 7,217 shares of the railroad operator’s stock valued at $764,000 after buying an additional 3,386 shares during the period. 78.43% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on UNP shares. Barclays reissued a “buy” rating and set a $150.00 price objective on shares of Union Pacific in a report on Wednesday, December 13th. Argus lifted their price objective on shares of Union Pacific from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. BMO Capital Markets reissued a “buy” rating on shares of Union Pacific in a report on Friday, October 20th. Morgan Stanley lowered shares of Union Pacific from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $102.00 to $100.00 in a report on Monday, October 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $124.00 price objective on shares of Union Pacific in a report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $120.00.
Union Pacific (NYSE:UNP) last announced its earnings results on Thursday, October 26th. The railroad operator reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.32 billion. Union Pacific had a net margin of 21.84% and a return on equity of 23.35%. Union Pacific’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. equities research analysts anticipate that Union Pacific Co. will post 5.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 1.98%. This is an increase from Union Pacific’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, November 29th. Union Pacific’s dividend payout ratio (DPR) is 47.08%.
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About Union Pacific
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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