Allworth Financial LP Sells 17,231 Shares of Union Pacific Corporation $UNP

Key Points

• Allworth Financial reduced its Union Pacific stake by 25.1% in the second quarter, selling 17,231 shares and retaining 51,370 shares valued at approximately $13.97 million. Institutional investors collectively own 80.38% of UNP.
• Union Pacific reported stronger-than-expected quarterly results, with EPS of $3.41 and revenue of $6.86 billion; revenue increased 11.5% year over year.
• The company raised its quarterly dividend from $1.38 to $1.42 per share, while analysts maintained a “Moderate Buy” consensus and an average price target of $320.89.

Allworth Financial LP decreased its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 25.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,370 shares of the railroad operator's stock after selling 17,231 shares during the period. Allworth Financial LP's holdings in Union Pacific were worth $13,973,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in Union Pacific by 29,250.5% during the second quarter. California State Teachers Retirement System now owns 247,700,336 shares of the railroad operator's stock valued at $67,374,491,000 after buying an additional 246,856,396 shares during the last quarter. State Street Corp increased its stake in Union Pacific by 4.3% in the 4th quarter. State Street Corp now owns 26,330,080 shares of the railroad operator's stock worth $6,090,674,000 after acquiring an additional 1,082,285 shares during the last quarter. Capital World Investors raised its holdings in shares of Union Pacific by 92.1% during the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator's stock worth $4,658,142,000 after acquiring an additional 9,655,306 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Union Pacific by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 15,360,668 shares of the railroad operator's stock worth $3,552,550,000 after acquiring an additional 296,814 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Union Pacific by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 14,527,563 shares of the railroad operator's stock valued at $3,951,497,000 after acquiring an additional 64,492 shares during the last quarter. 80.38% of the stock is owned by institutional investors.

Union Pacific Stock Performance

NYSE:UNP opened at $288.68 on Wednesday. The stock's fifty day moving average is $294.62 and its 200 day moving average is $271.35. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The firm has a market capitalization of $171.50 billion, a PE ratio of 23.37, a PEG ratio of 2.88 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 - Get Free Report) last issued its quarterly 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 return on equity of 38.46% and a net margin of 28.85%.The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period last year, the company earned $3.03 earnings per share. Union Pacific's revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Union Pacific Corporation will post 13.02 earnings per share for the current year.

Union Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's dividend payout ratio is presently 45.99%.

Analysts Set New Price Targets

A number of research firms recently weighed in on UNP. Barclays reissued an "overweight" rating and issued a $350.00 target price (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Benchmark increased their price objective on shares of Union Pacific from $325.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Citigroup lifted their price objective on shares of Union Pacific from $326.00 to $349.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. The Goldman Sachs Group set a $317.00 target price on shares of Union Pacific and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $335.00 price target (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $320.89.

Union Pacific Profile

Union Pacific Corporation is a transportation company that operates Union Pacific Railroad, one of the largest freight railroad networks in the United States. The company provides rail transportation and logistics services for a broad range of commodities, including agricultural products, automotive goods, chemicals, coal, industrial products, and intermodal shipments.

Union Pacific's railroad network serves the western two-thirds of the United States, connecting major markets and ports across approximately 23 states.

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