Hamlin Capital Management LLC bought a new stake in shares of Union Pacific Co. (NYSE:UNP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,275 shares of the railroad operator’s stock, valued at approximately $208,000.
A number of other hedge funds also recently modified their holdings of UNP. Principal Financial Group Inc. lifted its holdings in Union Pacific by 9.0% in the 1st quarter. Principal Financial Group Inc. now owns 2,439,928 shares of the railroad operator’s stock worth $327,999,000 after buying an additional 202,340 shares during the period. LPL Financial LLC lifted its holdings in Union Pacific by 10.7% in the 1st quarter. LPL Financial LLC now owns 164,673 shares of the railroad operator’s stock worth $22,137,000 after buying an additional 15,943 shares during the period. Sciencast Management LP purchased a new stake in Union Pacific in the 1st quarter worth approximately $205,000. Verition Fund Management LLC purchased a new stake in Union Pacific in the 1st quarter worth approximately $243,000. Finally, Millennium Management LLC lifted its holdings in Union Pacific by 95.0% in the 1st quarter. Millennium Management LLC now owns 932,130 shares of the railroad operator’s stock worth $125,306,000 after buying an additional 453,999 shares during the period. Institutional investors own 80.43% of the company’s stock.
In related news, EVP Lynden L. Tennison sold 8,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $151.72, for a total transaction of $1,282,034.00. Following the completion of the transaction, the executive vice president now owns 53,978 shares of the company’s stock, valued at approximately $8,189,542.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert M. Knight, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $163.81, for a total value of $3,276,200.00. Following the transaction, the executive vice president now directly owns 106,518 shares of the company’s stock, valued at approximately $17,448,713.58. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
Union Pacific (NYSE:UNP) last announced its earnings results on Thursday, July 19th. The railroad operator reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.04. Union Pacific had a return on equity of 23.63% and a net margin of 51.31%. The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Union Pacific Co. will post 7.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.10%. This is a positive change from Union Pacific’s previous quarterly dividend of $0.73. Union Pacific’s dividend payout ratio is currently 55.27%.
Several research firms have weighed in on UNP. UBS Group increased their price objective on Union Pacific from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Cowen reiterated a “hold” rating and issued a $151.00 price objective on shares of Union Pacific in a report on Thursday, July 19th. Bank of America increased their price objective on Union Pacific from $158.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Royal Bank of Canada reiterated a “hold” rating and issued a $145.00 price objective on shares of Union Pacific in a report on Friday, July 20th. Finally, ValuEngine cut Union Pacific from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $160.94.
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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