Columbia Asset Management Sells 92 Shares of Union Pacific Corp. (UNP)
Columbia Asset Management reduced its position in shares of Union Pacific Corp. (NYSE:UNP) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 28,986 shares of the railroad operator’s stock after selling 92 shares during the period. Columbia Asset Management’s holdings in Union Pacific Corp. were worth $2,827,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox boosted its position in shares of Union Pacific Corp. by 24.0% in the second quarter. Dodge & Cox now owns 15,188,949 shares of the railroad operator’s stock worth $1,325,236,000 after buying an additional 2,936,275 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Union Pacific Corp. during the second quarter worth approximately $141,246,000. Third Point LLC purchased a new position in shares of Union Pacific Corp. during the second quarter worth approximately $117,788,000. Emerald Acquisition Ltd. purchased a new position in shares of Union Pacific Corp. during the second quarter worth approximately $116,499,000. Finally, Alliancebernstein L.P. boosted its position in shares of Union Pacific Corp. by 48.1% in the second quarter. Alliancebernstein L.P. now owns 3,785,810 shares of the railroad operator’s stock worth $330,312,000 after buying an additional 1,229,301 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.
Union Pacific Corp. (NYSE:UNP) traded down 0.12% during midday trading on Tuesday, hitting $100.57. The company had a trading volume of 2,945,866 shares. Union Pacific Corp. has a 52 week low of $67.06 and a 52 week high of $102.16. The stock has a 50 day moving average price of $94.68 and a 200 day moving average price of $91.95. The company has a market capitalization of $82.88 billion, a P/E ratio of 20.15 and a beta of 0.66.
Union Pacific Corp. (NYSE:UNP) last announced its earnings results on Thursday, October 20th. The railroad operator reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by $0.03. Union Pacific Corp. had a return on equity of 20.55% and a net margin of 21.05%. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Equities analysts forecast that Union Pacific Corp. will post $5.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 2.41%. This is an increase from Union Pacific Corp.’s previous quarterly dividend of $0.55. The ex-dividend date is Monday, November 28th. Union Pacific Corp.’s payout ratio is 44.00%.
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A number of analysts recently issued reports on the company. Morgan Stanley set a $98.00 price objective on Union Pacific Corp. and gave the stock a “buy” rating in a report on Friday, October 21st. Vetr upgraded Union Pacific Corp. from a “sell” rating to a “hold” rating and set a $91.25 target price for the company in a research note on Monday, September 12th. Zacks Investment Research downgraded Union Pacific Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Royal Bank Of Canada downgraded Union Pacific Corp. from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $107.00 to $98.00 in a research note on Friday, October 21st. Finally, Seaport Global Securities initiated coverage on Union Pacific Corp. in a research note on Monday, October 24th. They issued a “buy” rating and a $100.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $96.38.
In related news, EVP Robert M. Knight, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $95.24, for a total transaction of $952,400.00. Following the transaction, the executive vice president now directly owns 150,660 shares in the company, valued at approximately $14,348,858.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven R. Rogel sold 7,400 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $100.51, for a total value of $743,774.00. Following the transaction, the director now owns 11,400 shares in the company, valued at $1,145,814. The disclosure for this sale can be found here. Corporate 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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