Davis R M Inc. cut its stake in Union Pacific Co. (NYSE:UNP) by 7.0% in the first quarter, Holdings Channel reports. The institutional investor owned 118,083 shares of the railroad operator’s stock after selling 8,938 shares during the period. Davis R M Inc.’s holdings in Union Pacific were worth $19,743,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new stake in Union Pacific in the first quarter worth $4,894,000. Paradigm Financial Partners LLC bought a new stake in shares of Union Pacific during the fourth quarter worth $912,000. California State Teachers Retirement System lifted its position in shares of Union Pacific by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 1,340,870 shares of the railroad operator’s stock worth $185,348,000 after purchasing an additional 24,984 shares during the last quarter. Segment Wealth Management LLC lifted its position in shares of Union Pacific by 5.9% during the fourth quarter. Segment Wealth Management LLC now owns 32,454 shares of the railroad operator’s stock worth $4,486,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Claybrook Capital LLC bought a new stake in shares of Union Pacific during the fourth quarter worth $85,000. Institutional investors own 80.25% of the company’s stock.
In other news, EVP Robert M. Knight, Jr. sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $170.01, for a total transaction of $1,700,100.00. Following the transaction, the executive vice president now owns 94,943 shares in the company, valued at $16,141,259.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd M. Rynaski sold 8,802 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.00, for a total value of $1,496,340.00. Following the transaction, the vice president now owns 19,731 shares in the company, valued at approximately $3,354,270. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,667 shares of company stock worth $5,454,729. Insiders own 9.96% of the company’s stock.
Union Pacific (NYSE:UNP) last announced its quarterly earnings results on Thursday, April 18th. The railroad operator reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.51 billion. Union Pacific had a return on equity of 30.73% and a net margin of 26.59%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. Sell-side analysts predict that Union Pacific Co. will post 9.07 earnings per share for the current year.
Union Pacific declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 7th that permits the company to buyback 150,000,000 outstanding shares. This buyback authorization permits the railroad operator to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.52 annualized dividend and a dividend yield of 2.04%. Union Pacific’s dividend payout ratio is currently 44.50%.
Several analysts have recently weighed in on UNP shares. Zacks Investment Research downgraded Union Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. TD Securities lifted their target price on Union Pacific from $170.00 to $180.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Loop Capital downgraded Union Pacific from a “buy” rating to a “hold” rating and decreased their target price for the stock from $193.00 to $182.00 in a research report on Tuesday, March 19th. Raymond James lifted their target price on Union Pacific from $192.00 to $201.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 22nd. Finally, Deutsche Bank set a $200.00 target price on Union Pacific and gave the stock a “buy” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Union Pacific currently has an average rating of “Buy” and an average price target of $175.35.
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Union Pacific Profile
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, engages in the railroad business in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, fertilizers, and food and beverage products; coal and sand, as well as petroleum, liquid petroleum gases, and renewables; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, and soda ash, as well as intermodal and finished vehicles.
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