Meyer Handelman Co. cut its holdings in shares of Union Pacific Co. (NYSE:UNP – Get Rating) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,850 shares of the railroad operator’s stock after selling 400 shares during the period. Meyer Handelman Co.’s holdings in Union Pacific were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in Union Pacific by 4.1% during the fourth quarter. Mutual Advisors LLC now owns 6,505 shares of the railroad operator’s stock worth $1,639,000 after acquiring an additional 259 shares in the last quarter. Partners Capital Investment Group LLP lifted its stake in Union Pacific by 3.5% during the fourth quarter. Partners Capital Investment Group LLP now owns 123,981 shares of the railroad operator’s stock worth $31,235,000 after purchasing an additional 4,218 shares during the last quarter. Steinberg Asset Management LLC bought a new stake in Union Pacific during the fourth quarter worth $227,000. Banco de Sabadell S.A lifted its stake in shares of Union Pacific by 55.0% in the 4th quarter. Banco de Sabadell S.A now owns 14,704 shares of the railroad operator’s stock valued at $3,703,000 after acquiring an additional 5,217 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Union Pacific by 6.9% in the 4th quarter. LPL Financial LLC now owns 307,454 shares of the railroad operator’s stock valued at $77,457,000 after acquiring an additional 19,873 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on UNP. Credit Suisse Group decreased their price target on Union Pacific to $252.00 in a report on Friday, July 22nd. Stifel Nicolaus decreased their price target on shares of Union Pacific from $254.00 to $225.00 in a research note on Friday, July 15th. Barclays reduced their price objective on shares of Union Pacific from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Tuesday, June 21st. Morgan Stanley reduced their price target on shares of Union Pacific from $210.00 to $207.00 and set an “equal weight” rating for the company in a research report on Friday, July 22nd. Finally, Sanford C. Bernstein downgraded shares of Union Pacific from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $234.00 to $230.00 in a report on Wednesday, September 14th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $247.22.
Union Pacific Trading Down 2.4 %
Union Pacific (NYSE:UNP – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The railroad operator reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.11. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.11 billion. Union Pacific had a net margin of 29.23% and a return on equity of 52.00%. Union Pacific’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.72 earnings per share. On average, sell-side analysts predict that Union Pacific Co. will post 11.55 EPS for the current fiscal year.
Union Pacific Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 30th. Union Pacific’s dividend payout ratio (DPR) is presently 48.46%.
Union Pacific Profile
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, and other agricultural users; petroleum, and liquid petroleum gases; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.
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