Palestra Capital Management LLC Has $207.39 Million Stake in Union Pacific Corporation $UNP

Palestra Capital Management LLC boosted its position in Union Pacific Corporation (NYSE:UNP) by 5.3% during the second quarter, Holdings Channel reports. The institutional investor owned 762,465 shares of the railroad operator’s stock after purchasing an additional 38,563 shares during the quarter. Union Pacific comprises approximately 7.0% of Palestra Capital Management LLC’s portfolio, making the stock its 5th largest holding. Palestra Capital Management LLC’s holdings in Union Pacific were worth $207,390,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UNP. Cambient Family Office LLC acquired a new stake in Union Pacific in the 4th quarter valued at $1,319,000. First National Bank of Omaha boosted its stake in shares of Union Pacific by 35.8% during the 4th quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator’s stock worth $12,665,000 after buying an additional 14,399 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Union Pacific during the 4th quarter worth about $4,746,000. Sage Investment Advisers LLC bought a new position in shares of Union Pacific in the 4th quarter valued at about $997,000. Finally, Truist Financial Corp increased its position in shares of Union Pacific by 3.1% in the fourth quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator’s stock valued at $235,038,000 after acquiring an additional 30,079 shares during the last quarter. Institutional investors own 80.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on UNP shares. Barclays reissued an “overweight” rating and set a $350.00 price target (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Bank of America increased their price objective on Union Pacific from $301.00 to $334.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $320.00 target price (up from $285.00) on shares of Union Pacific in a report on Friday, July 24th. Weiss Ratings raised shares of Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, Evercore reiterated an “outperform” rating and issued a $294.00 price target on shares of Union Pacific in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.89.

Union Pacific Price Performance

NYSE:UNP opened at $311.21 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average price is $289.07 and its two-hundred day moving average price is $269.15. The firm has a market capitalization of $184.88 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 3.16 and a beta of 0.96. Union Pacific Corporation has a 12-month low of $210.84 and a 12-month high of $315.99.

Union Pacific (NYSE:UNP) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.15. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the firm posted $3.03 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. On average, analysts anticipate that Union Pacific Corporation will post 12.93 earnings per share for the current year.

Union Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.8%. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s payout ratio is 44.70%.

Insider Transactions at Union Pacific

In other Union Pacific news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the completion of the transaction, the executive vice president directly owned 43,012 shares of the company’s stock, valued at $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

About Union Pacific

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.