Palisade Capital Management LP Takes $7.83 Million Position in Union Pacific Corporation $UNP

Palisade Capital Management LP purchased a new stake in shares of Union Pacific Corporation (NYSE:UNP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 28,790 shares of the railroad operator’s stock, valued at approximately $7,831,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tiemann Investment Advisors LLC raised its holdings in Union Pacific by 1.7% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 2,117 shares of the railroad operator’s stock valued at $576,000 after acquiring an additional 35 shares during the period. TFR Capital LLC. boosted its holdings in shares of Union Pacific by 3.8% in the second quarter. TFR Capital LLC. now owns 979 shares of the railroad operator’s stock worth $266,000 after acquiring an additional 36 shares during the period. Key Financial Inc boosted its holdings in shares of Union Pacific by 2.1% in the first quarter. Key Financial Inc now owns 1,821 shares of the railroad operator’s stock worth $442,000 after acquiring an additional 38 shares during the period. Members Trust Co grew its position in shares of Union Pacific by 2.5% in the first quarter. Members Trust Co now owns 1,573 shares of the railroad operator’s stock valued at $382,000 after purchasing an additional 38 shares in the last quarter. Finally, EJMK Ventures LLC grew its position in shares of Union Pacific by 4.0% in the first quarter. EJMK Ventures LLC now owns 1,016 shares of the railroad operator’s stock valued at $247,000 after purchasing an additional 39 shares in the last quarter. 80.38% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Eric J. Gehringer sold 2,991 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was 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 owned 43,012 shares of the company’s stock, valued at approximately $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on UNP. Royal Bank Of Canada reiterated an “outperform” rating and set a $339.00 price objective (up from $289.00) on shares of Union Pacific in a research note on Friday, July 24th. Benchmark lifted their target price on Union Pacific from $325.00 to $335.00 and gave the company a “buy” rating in a report on Friday, July 24th. The Goldman Sachs Group set a $317.00 price target on Union Pacific and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Stephens raised shares of Union Pacific to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Susquehanna raised their price objective on shares of Union Pacific from $305.00 to $333.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.89.

Union Pacific Trading Up 0.1%

Union Pacific stock opened at $310.11 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The stock has a market cap of $184.23 billion, a P/E ratio of 25.11, a PEG ratio of 3.16 and a beta of 0.96. The firm’s fifty day moving average price is $287.99 and its 200-day moving average price is $268.73.

Union Pacific (NYSE:UNP) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $6.72 billion. During the same quarter last year, the company earned $3.03 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that Union Pacific Corporation will post 12.93 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

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

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.