Eastern Bank Has $56.90 Million Stock Holdings in Union Pacific Corporation $UNP

Eastern Bank increased its position in shares of Union Pacific Corporation (NYSE:UNP) by 59.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,187 shares of the railroad operator’s stock after acquiring an additional 78,131 shares during the period. Eastern Bank’s holdings in Union Pacific were worth $56,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Cambient Family Office LLC bought a new position in shares of Union Pacific during the 4th quarter valued at $1,319,000. First National Bank of Omaha boosted its holdings in Union Pacific by 35.8% in the fourth quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator’s stock worth $12,665,000 after purchasing an additional 14,399 shares in the last quarter. North Dakota State Investment Board acquired a new position in Union Pacific during the fourth quarter worth $4,746,000. Sage Investment Advisers LLC acquired a new position in Union Pacific during the fourth quarter worth $997,000. Finally, Truist Financial Corp raised its holdings in Union Pacific by 3.1% during the fourth quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator’s stock valued at $235,038,000 after buying an additional 30,079 shares in the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UNP. TD Cowen reaffirmed a “buy” rating and issued a $325.00 price target (up from $282.00) on shares of Union Pacific in a research report on Friday, July 24th. Citizens Jmp assumed coverage on Union Pacific in a report on Wednesday, July 15th. They set an “outperform” rating and a $350.00 price objective on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $335.00 price objective (up from $315.00) on shares of Union Pacific in a research note on Friday, July 24th. Susquehanna boosted their target price on Union Pacific from $305.00 to $333.00 and gave the stock a “positive” rating in a report on Tuesday, July 14th. Finally, Benchmark upped their target price on Union Pacific from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.89.

Insider Activity at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president owned 43,012 shares of the company’s stock, valued at approximately $11,353,447.52. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Union Pacific Stock Down 0.1%

Shares of UNP opened at $291.90 on Tuesday. The company has a 50-day simple moving average of $278.13 and a 200-day simple moving average of $261.21. The firm has a market capitalization of $173.41 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.99 and a beta of 0.96. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. Union Pacific Corporation has a 52 week low of $210.84 and a 52 week high of $315.99.

Union Pacific (NYSE:UNP) last released its earnings results 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 business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period last year, the business earned $3.03 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Union Pacific Corporation will post 12.9 earnings per share for the current year.

Union Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be given a $1.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio is 44.70%.

About Union Pacific

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.