Hodges Capital Management Inc. Reduces Stake in Union Pacific Co. (UNP)
Hodges Capital Management Inc. lowered its stake in Union Pacific Co. (NYSE:UNP) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,660 shares of the railroad operator’s stock after selling 1,708 shares during the quarter. Hodges Capital Management Inc.’s holdings in Union Pacific were worth $2,165,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of UNP. BlackRock Inc. raised its holdings in Union Pacific by 2.2% in the 4th quarter. BlackRock Inc. now owns 48,020,051 shares of the railroad operator’s stock valued at $6,637,811,000 after buying an additional 1,029,260 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Union Pacific by 18,524.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,738,808 shares of the railroad operator’s stock valued at $237,000 after buying an additional 32,563,028 shares during the last quarter. Morgan Stanley raised its holdings in Union Pacific by 5.7% in the 3rd quarter. Morgan Stanley now owns 15,894,983 shares of the railroad operator’s stock valued at $2,588,181,000 after buying an additional 859,164 shares during the last quarter. FMR LLC raised its holdings in Union Pacific by 17.3% in the 3rd quarter. FMR LLC now owns 14,457,068 shares of the railroad operator’s stock valued at $2,354,044,000 after buying an additional 2,136,860 shares during the last quarter. Finally, Capital World Investors raised its holdings in Union Pacific by 11.8% in the 3rd quarter. Capital World Investors now owns 10,469,634 shares of the railroad operator’s stock valued at $1,704,771,000 after buying an additional 1,107,379 shares during the last quarter. 78.71% of the stock is owned by hedge funds and other institutional investors.
UNP has been the subject of a number of research reports. Seaport Global Securities upgraded shares of Union Pacific from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Tuesday, January 8th. ValuEngine raised shares of Union Pacific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Deutsche Bank raised shares of Union Pacific from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research report on Tuesday, November 27th. Zacks Investment Research raised shares of Union Pacific from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Tuesday, November 20th. Finally, Cowen reissued a “buy” rating on shares of Union Pacific in a research report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $169.39.
Union Pacific (NYSE:UNP) last announced its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.06 by $0.06. The company had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.73 billion. Union Pacific had a net margin of 26.13% and a return on equity of 27.95%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. On average, sell-side analysts expect that Union Pacific Co. will post 9.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, February 28th will be given a dividend of $0.88 per share. This is an increase from Union Pacific’s previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, February 27th. This represents a $3.52 annualized dividend and a dividend yield of 2.13%. Union Pacific’s dividend payout ratio (DPR) is 44.50%.
Union Pacific announced that its Board of Directors has approved a stock repurchase program on Thursday, February 7th that authorizes the company to buyback 150,000,000 shares. This buyback authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Union Pacific Company Profile
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; 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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