NewEdge Wealth LLC Makes New Investment in Union Pacific Corporation $UNP

NewEdge Wealth LLC bought a new stake in Union Pacific Corporation (NYSE:UNP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 128,416 shares of the railroad operator’s stock, valued at approximately $34,929,000.

Several other large investors have also modified their holdings of the business. Acadian Asset Management LLC increased its position in shares of Union Pacific by 40.4% during the 1st quarter. Acadian Asset Management LLC now owns 2,312 shares of the railroad operator’s stock worth $546,000 after purchasing an additional 665 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Union Pacific by 0.5% in the second quarter. Schnieders Capital Management LLC. now owns 20,606 shares of the railroad operator’s stock valued at $4,741,000 after buying an additional 102 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in Union Pacific by 1.6% in the second quarter. Main Street Financial Solutions LLC now owns 3,733 shares of the railroad operator’s stock valued at $859,000 after buying an additional 58 shares during the last quarter. HUB Investment Partners LLC boosted its stake in Union Pacific by 10.0% during the second quarter. HUB Investment Partners LLC now owns 6,091 shares of the railroad operator’s stock worth $1,401,000 after buying an additional 554 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Union Pacific by 7.4% during the second quarter. Alliancebernstein L.P. now owns 1,528,426 shares of the railroad operator’s stock worth $351,660,000 after buying an additional 105,664 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.

Union Pacific Trading Up 1.0%

Shares of UNP stock opened at $301.69 on Thursday. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The company has a 50 day moving average price of $284.87 and a 200 day moving average price of $266.83. The stock has a market capitalization of $179.23 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 3.05 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 (NYSE:UNP) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.15. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period in the prior year, the business earned $3.03 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that Union Pacific Corporation will post 12.93 EPS for the current fiscal year.

Union Pacific Increases Dividend

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

Insider Buying and Selling at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total value of $789,504.36. Following the sale, the executive vice president directly owned 43,012 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UNP. UBS Group reiterated a “neutral” rating and set a $310.00 price target (up from $286.00) on shares of Union Pacific in a research report on Friday, July 24th. Evercore restated an “outperform” rating and issued a $294.00 price objective on shares of Union Pacific in a report on Thursday, June 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $320.00 target price (up from $285.00) on shares of Union Pacific in a report on Friday, July 24th. Stephens upgraded shares of Union Pacific to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Union Pacific has a consensus rating of “Moderate Buy” and a consensus price target of $320.89.

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.