Canandaigua National Bank & Trust Co. Purchases New Stake in Union Pacific Corporation $UNP

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Union Pacific Corporation (NYSE:UNP) in the 2nd quarter, Holdings Channel reports. The fund purchased 8,428 shares of the railroad operator’s stock, valued at approximately $2,292,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC bought a new position in shares of Union Pacific in the fourth quarter valued at about $25,000. Tucker Asset Management LLC acquired a new stake in shares of Union Pacific during the 4th quarter worth about $25,000. SWAN Capital LLC boosted its holdings in shares of Union Pacific by 2,575.0% during the 4th quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock worth $25,000 after buying an additional 103 shares during the period. High Point Wealth Management LLC bought a new stake in shares of Union Pacific during the 4th quarter worth about $26,000. Finally, Cornerstone Financial Management LLC acquired a new position in Union Pacific in the 4th quarter valued at about $27,000. 80.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on UNP. Benchmark increased their price target on shares of Union Pacific from $325.00 to $335.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings upgraded Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and issued a $310.00 target price (up from $286.00) on shares of Union Pacific in a research report on Friday, July 24th. Bank of America increased their target price on Union Pacific from $301.00 to $334.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Citizens Jmp initiated coverage on Union Pacific in a research note on Wednesday, July 15th. They set an “outperform” rating and a $350.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock 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 the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Union Pacific Trading Up 1.8%

UNP stock opened at $296.52 on Wednesday. Union Pacific Corporation has a 52 week low of $210.84 and a 52 week high of $315.99. The company has a market capitalization of $176.16 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company’s 50-day simple moving average is $278.63 and its 200 day simple moving average is $261.70. 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 (NYSE:UNP) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.15. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company earned $3.03 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Union Pacific Corporation will post 12.9 earnings per share for the current year.

Union Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 31st. This is a boost from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio (DPR) is currently 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.