Zurich Insurance Group Ltd FI lessened its stake in shares of Union Pacific Co. (NYSE:UNP) by 12.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,497 shares of the railroad operator’s stock after selling 20,822 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Union Pacific were worth $24,605,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of UNP. FMR LLC increased its stake in Union Pacific by 29.1% during the 1st quarter. FMR LLC now owns 16,222,588 shares of the railroad operator’s stock worth $2,712,416,000 after acquiring an additional 3,653,756 shares during the period. Invesco Ltd. increased its stake in shares of Union Pacific by 106.4% in the 2nd quarter. Invesco Ltd. now owns 4,282,775 shares of the railroad operator’s stock valued at $724,260,000 after purchasing an additional 2,207,908 shares during the last quarter. Soroban Capital Partners LP increased its stake in shares of Union Pacific by 69.6% in the 2nd quarter. Soroban Capital Partners LP now owns 4,320,067 shares of the railroad operator’s stock valued at $730,567,000 after purchasing an additional 1,772,727 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of Union Pacific by 17,755.2% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 798,662 shares of the railroad operator’s stock valued at $79,866,000 after purchasing an additional 794,189 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Union Pacific in the 2nd quarter valued at $129,538,000. Hedge funds and other institutional investors own 77.77% of the company’s stock.
Several equities analysts have recently issued reports on the company. Sanford C. Bernstein set a $177.00 price target on Union Pacific and gave the company a “hold” rating in a research note on Friday, July 19th. Atlantic Securities upgraded Union Pacific from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $195.00 in a research note on Friday, July 26th. ValuEngine lowered Union Pacific from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Bank of America raised their price objective on Union Pacific from $179.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Goldman Sachs Group began coverage on Union Pacific in a report on Wednesday, July 10th. They set a “buy” rating and a $198.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $183.15.
Union Pacific (NYSE:UNP) last announced its earnings results on Thursday, July 18th. The railroad operator reported $2.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.10. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.62 billion. Union Pacific had a return on equity of 31.74% and a net margin of 26.95%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 EPS. On average, sell-side analysts predict that Union Pacific Co. will post 8.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.97 per share. The ex-dividend date is Thursday, August 29th. This is an increase from Union Pacific’s previous quarterly dividend of $0.88. This represents a $3.88 annualized dividend and a yield of 2.32%. Union Pacific’s payout ratio is presently 49.05%.
In other Union Pacific news, EVP Robert M. Knight, Jr. sold 8,620 shares of Union Pacific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $180.04, for a total transaction of $1,551,944.80. Following the transaction, the executive vice president now directly owns 94,943 shares of the company’s stock, valued at approximately $17,093,537.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.96% of the stock is currently owned by insiders.
About Union Pacific
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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