PNC Financial Services Group Inc. Sells 65,649 Shares of Union Pacific Co. (UNP)
PNC Financial Services Group Inc. trimmed its position in shares of Union Pacific Co. (NYSE:UNP) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,940,819 shares of the railroad operator’s stock after selling 65,649 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Union Pacific were worth $274,973,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Fluent Financial LLC lifted its stake in shares of Union Pacific by 11.4% in the second quarter. Fluent Financial LLC now owns 3,506 shares of the railroad operator’s stock worth $497,000 after acquiring an additional 358 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Union Pacific by 11.5% in the first quarter. Summit Trail Advisors LLC now owns 3,504 shares of the railroad operator’s stock worth $478,000 after acquiring an additional 360 shares during the period. Winthrop Partners WNY LLC lifted its stake in shares of Union Pacific by 7.7% in the first quarter. Winthrop Partners WNY LLC now owns 5,080 shares of the railroad operator’s stock worth $661,000 after acquiring an additional 364 shares during the period. Whittier Trust Co. lifted its stake in shares of Union Pacific by 0.7% in the second quarter. Whittier Trust Co. now owns 49,496 shares of the railroad operator’s stock worth $7,013,000 after acquiring an additional 368 shares during the period. Finally, Greenwood Gearhart Inc. lifted its stake in shares of Union Pacific by 0.6% in the second quarter. Greenwood Gearhart Inc. now owns 60,182 shares of the railroad operator’s stock worth $8,527,000 after acquiring an additional 368 shares during the period. 80.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on UNP shares. Morgan Stanley lifted their price objective on Union Pacific from $136.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, July 20th. Deutsche Bank lowered Union Pacific from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research note on Tuesday, August 14th. ValuEngine upgraded Union Pacific from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $145.00 target price on shares of Union Pacific in a report on Friday, July 20th. Finally, Credit Suisse Group lifted their target price on Union Pacific from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $147.35.
Union Pacific (NYSE:UNP) last released its quarterly earnings data on Thursday, July 19th. The railroad operator reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The firm had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.65 billion. Union Pacific had a return on equity of 23.63% and a net margin of 51.31%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. equities analysts anticipate that Union Pacific Co. will post 7.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.80 per share. This is an increase from Union Pacific’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.14%. Union Pacific’s payout ratio is currently 50.43%.
In other news, EVP Lynden L. Tennison sold 8,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $151.72, for a total transaction of $1,282,034.00. Following the completion of the sale, the executive vice president now owns 53,978 shares in the company, valued at $8,189,542.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
Union Pacific Profile
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates railroads in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, and food and beverage products; automotive, such as finished vehicles and automotive parts; and chemicals comprising industrial chemicals, plastics, fertilizers, petroleum and liquid petroleum gases, crude oil, and soda ash.
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