First Interstate Bank Reduces Stake in Union Pacific Corp. (UNP)
First Interstate Bank decreased its position in Union Pacific Corp. (NYSE:UNP) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,267 shares of the railroad operator’s stock after selling 204 shares during the period. Union Pacific Corp. accounts for approximately 1.3% of First Interstate Bank’s investment portfolio, making the stock its 27th largest position. First Interstate Bank’s holdings in Union Pacific Corp. were worth $6,480,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox increased its position in Union Pacific Corp. by 4,160.3% in the first quarter. Dodge & Cox now owns 12,252,674 shares of the railroad operator’s stock worth $974,700,000 after buying an additional 11,965,075 shares in the last quarter. Wellington Management Group LLP increased its position in Union Pacific Corp. by 37.2% in the first quarter. Wellington Management Group LLP now owns 17,675,862 shares of the railroad operator’s stock worth $1,406,114,000 after buying an additional 4,787,909 shares in the last quarter. Lazard Asset Management LLC increased its position in Union Pacific Corp. by 56.4% in the first quarter. Lazard Asset Management LLC now owns 10,638,241 shares of the railroad operator’s stock worth $846,269,000 after buying an additional 3,835,860 shares in the last quarter. Bank of Montreal Can purchased a new position in Union Pacific Corp. during the second quarter worth about $141,246,000. Finally, Franklin Resources Inc. increased its position in Union Pacific Corp. by 17.0% in the first quarter. Franklin Resources Inc. now owns 10,041,797 shares of the railroad operator’s stock worth $798,825,000 after buying an additional 1,459,600 shares in the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.
Union Pacific Corp. (NYSE:UNP) traded up 0.01% during midday trading on Tuesday, reaching $93.10. The company’s stock had a trading volume of 1,136,155 shares. The stock’s 50-day moving average price is $94.10 and its 200-day moving average price is $87.52. Union Pacific Corp. has a 12 month low of $67.06 and a 12 month high of $98.28. The firm has a market capitalization of $77.54 billion, a price-to-earnings ratio of 18.13 and a beta of 0.92.
Union Pacific Corp. (NYSE:UNP) last issued its quarterly earnings results on Thursday, July 21st. The railroad operator reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. The firm earned $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. Union Pacific Corp. had a return on equity of 21.29% and a net margin of 21.48%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. Analysts predict that Union Pacific Corp. will post $5.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, August 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.36%. Union Pacific Corp.’s dividend payout ratio (DPR) is presently 42.80%.
Several research analysts have weighed in on the company. Vetr downgraded Union Pacific Corp. from a “hold” rating to a “sell” rating and set a $90.44 target price on the stock. in a research note on Wednesday, August 17th. Citigroup Inc. set a $106.00 target price on Union Pacific Corp. and gave the company a “buy” rating in a research note on Tuesday, September 13th. Barclays PLC lifted their target price on Union Pacific Corp. from $91.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, September 12th. Argus reiterated a “buy” rating and issued a $100.00 target price on shares of Union Pacific Corp. in a research note on Monday, July 25th. Finally, Zacks Investment Research downgraded Union Pacific Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Union Pacific Corp. has a consensus rating of “Hold” and a consensus price target of $95.62.
In other news, EVP Robert M. Knight, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $97.00, for a total transaction of $485,000.00. Following the completion of the sale, the executive vice president now owns 150,660 shares in the company, valued at approximately $14,614,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert M. Knight, Jr. sold 10,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $95.24, for a total value of $952,400.00. Following the sale, the executive vice president now owns 150,660 shares of the company’s stock, valued at approximately $14,348,858.40. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
About Union Pacific Corp.
Union Pacific Corporation operates through its principal operating company, Union Pacific Railroad Company. Union Pacific Railroad Company links approximately 20 states in the western two-thirds of the country by rail, providing link in the supply chain. The Company’s business mix includes agricultural products, automotive, chemicals, coal, industrial products and intermodal.
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