7,355 Shares in Union Pacific Corporation $UNP Purchased by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. purchased a new stake in Union Pacific Corporation (NYSE:UNP) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 7,355 shares of the railroad operator’s stock, valued at approximately $2,001,000. Union Pacific comprises 1.4% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding.

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

Wall Street Analyst Weigh In

UNP has been the topic of a number of analyst reports. TD Cowen reiterated a “buy” rating and issued a $325.00 price objective (up from $282.00) on shares of Union Pacific in a research report on Friday, July 24th. Wells Fargo & Company restated an “overweight” rating and set a $335.00 price objective (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Union Pacific from $304.00 to $334.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Benchmark boosted their price target on shares of Union Pacific from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Union Pacific has an average rating of “Moderate Buy” and an average price target of $320.89.

Insider Activity at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of the company’s 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 transaction, the executive vice president directly owned 43,012 shares of the company’s stock, valued at $11,353,447.52. This represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Union Pacific Stock Up 1.3%

UNP opened at $307.97 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.82. Union Pacific Corporation has a 12 month low of $210.84 and a 12 month high of $315.99. The stock has a market capitalization of $182.96 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.10 and a beta of 0.96. The business has a 50 day simple moving average of $286.30 and a 200-day simple moving average of $267.60.

Union Pacific (NYSE:UNP) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, topping 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 firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the company posted $3.03 earnings per share. Union Pacific’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Union Pacific Corporation will post 12.93 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

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