Pinnacle West Asset Management Inc. Buys New Stake in Union Pacific Corporation $UNP

Pinnacle West Asset Management Inc. purchased a new position in shares of Union Pacific Corporation (NYSE:UNP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,355 shares of the railroad operator’s stock, valued at approximately $2,001,000. Union Pacific comprises 1.4% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 27th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rachor Investment Advisory Services LLC acquired a new stake in shares of Union Pacific during the 4th quarter worth about $25,000. Tucker Asset Management LLC acquired a new position in Union Pacific in the fourth quarter valued at approximately $25,000. SWAN Capital LLC increased its stake in Union Pacific by 2,575.0% in the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. High Point Wealth Management LLC purchased a new position in Union Pacific in the fourth quarter valued at approximately $26,000. Finally, Cornerstone Financial Management LLC purchased a new position in Union Pacific in the fourth quarter valued at approximately $27,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Trading Up 1.3%

UNP opened at $307.97 on Friday. The firm has a market cap of $182.96 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.10 and a beta of 0.96. Union Pacific Corporation has a 52 week low of $210.84 and a 52 week high of $315.99. The business’s 50 day moving average is $286.30 and its two-hundred day moving average is $267.60. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

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, beating analysts’ consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.03 earnings per share. On average, research analysts predict that Union Pacific Corporation will post 12.93 EPS for the current year.

Union Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio is presently 44.70%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $339.00 price objective (up from $289.00) on shares of Union Pacific in a research report on Friday, July 24th. Bank of America increased their target price on shares of Union Pacific from $301.00 to $334.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Stephens upgraded shares of Union Pacific to a “strong-buy” rating in a research note on Wednesday, July 8th. Citizens Jmp began coverage on shares of Union Pacific in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $350.00 price target for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $335.00 price target (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $320.89.

Insider Activity at Union Pacific

In related news, EVP Eric J. Gehringer sold 2,991 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total value of $789,504.36. Following the completion of the sale, the executive vice president owned 43,012 shares in the company, valued at $11,353,447.52. This represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by insiders.

Union Pacific Profile

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.