King Luther Capital Management Corp raised its stake in shares of Union Pacific Co. (NYSE:UNP) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,169,045 shares of the railroad operator’s stock after buying an additional 37,493 shares during the quarter. Union Pacific comprises 1.4% of King Luther Capital Management Corp’s holdings, making the stock its 19th largest position. King Luther Capital Management Corp’s holdings in Union Pacific were worth $190,356,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of UNP. Arrow Financial Corp raised its holdings in shares of Union Pacific by 2.3% in the third quarter. Arrow Financial Corp now owns 14,995 shares of the railroad operator’s stock worth $2,442,000 after buying an additional 339 shares during the period. FineMark National Bank & Trust raised its holdings in shares of Union Pacific by 1.3% in the third quarter. FineMark National Bank & Trust now owns 26,030 shares of the railroad operator’s stock worth $4,238,000 after buying an additional 341 shares during the period. Fluent Financial LLC raised its holdings in shares of Union Pacific by 11.4% in the second quarter. Fluent Financial LLC now owns 3,506 shares of the railroad operator’s stock worth $497,000 after buying an additional 358 shares during the period. Obermeyer Wood Investment Counsel Lllp raised its holdings in shares of Union Pacific by 11.1% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 3,668 shares of the railroad operator’s stock worth $597,000 after buying an additional 365 shares during the period. Finally, Good Life Advisors LLC raised its holdings in shares of Union Pacific by 9.5% in the third quarter. Good Life Advisors LLC now owns 4,241 shares of the railroad operator’s stock worth $690,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Deutsche Bank upgraded Union Pacific from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Tuesday, November 27th. Zacks Investment Research raised Union Pacific from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research note on Wednesday, September 19th. UBS Group increased their price objective on Union Pacific from $161.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, September 20th. Bank of America cut Union Pacific from a “buy” rating to a “neutral” rating and set a $164.00 price objective on the stock. in a research note on Thursday, October 18th. Finally, Loop Capital raised Union Pacific from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Union Pacific has an average rating of “Buy” and a consensus price target of $165.24.
Union Pacific (NYSE:UNP) last announced its earnings results on Thursday, October 25th. The railroad operator reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.05. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Union Pacific had a return on equity of 25.02% and a net margin of 51.90%. During the same quarter last year, the firm earned $1.50 EPS. As a group, equities research analysts expect that Union Pacific Co. will post 7.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $3.20 annualized dividend and a yield of 2.09%. Union Pacific’s dividend payout ratio (DPR) is presently 55.27%.
In other Union Pacific news, EVP Robert M. Knight, Jr. sold 20,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $163.81, for a total transaction of $3,276,200.00. Following the sale, the executive vice president now owns 106,518 shares of the company’s stock, valued at approximately $17,448,713.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.
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About Union Pacific
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates railroads in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, and food and beverage products; automotive, such as finished vehicles and automotive parts; and chemicals comprising industrial chemicals, plastics, fertilizers, petroleum and liquid petroleum gases, crude oil, and soda ash.
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