Essex Financial Services Inc. Lowers Holdings in Union Pacific Corporation $UNP

Essex Financial Services Inc. reduced its stake in shares of Union Pacific Corporation (NYSE:UNP) by 21.4% in the 3rd quarter, Holdings Channel reports. The fund owned 12,266 shares of the railroad operator’s stock after selling 3,345 shares during the period. Essex Financial Services Inc.’s holdings in Union Pacific were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Howard Hughes Medical Institute acquired a new position in shares of Union Pacific in the 2nd quarter valued at $30,000. Financial Gravity Companies Inc. acquired a new stake in Union Pacific during the second quarter valued at $31,000. Total Investment Management Inc. purchased a new position in Union Pacific in the second quarter valued at $31,000. Access Investment Management LLC acquired a new position in shares of Union Pacific in the second quarter worth about $32,000. Finally, Sagard Holdings Management Inc. acquired a new position in shares of Union Pacific in the second quarter worth about $33,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on UNP. Deutsche Bank Aktiengesellschaft set a $245.00 target price on Union Pacific in a research report on Thursday, December 11th. Susquehanna reissued a “buy” rating on shares of Union Pacific in a report on Monday, January 19th. Citigroup restated a “buy” rating and issued a $270.00 price objective (up from $265.00) on shares of Union Pacific in a research report on Wednesday, January 28th. BMO Capital Markets set a $255.00 target price on Union Pacific in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on Union Pacific from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $258.32.

Union Pacific Price Performance

NYSE:UNP opened at $264.67 on Thursday. The stock has a 50 day moving average of $238.15 and a two-hundred day moving average of $229.47. Union Pacific Corporation has a 12 month low of $204.66 and a 12 month high of $265.37. The firm has a market cap of $157.05 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 1.64.

Union Pacific (NYSE:UNP) last issued its quarterly earnings results on Tuesday, January 27th. The railroad operator reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.06). Union Pacific had a return on equity of 40.89% and a net margin of 29.12%.The firm had revenue of $6.09 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Union Pacific Corporation will post 11.99 earnings per share for the current fiscal year.

Union Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.1%. Union Pacific’s dividend payout ratio is presently 46.12%.

Union Pacific Company Profile

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.