Assenagon Asset Management S.A. Boosts Holdings in Union Pacific Corporation $UNP

Key Points

• Assenagon Asset Management increased its Union Pacific stake by 238.9% in the first quarter, adding 314,547 shares to bring its total to 446,227 shares worth about $108.3 million.
• Union Pacific beat quarterly expectations, reporting EPS of $2.93 versus $2.86 expected and revenue of $6.22 billion, while revenue rose 3.2% year over year.
• The company declared a quarterly dividend of $1.38 per share, implying an annualized yield of 2.1%; meanwhile, analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $282.21.

Assenagon Asset Management S.A. raised its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 238.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 446,227 shares of the railroad operator's stock after acquiring an additional 314,547 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Union Pacific worth $108,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of UNP. Rachor Investment Advisory Services LLC purchased a new position in shares of Union Pacific in the 4th quarter valued at approximately $25,000. Tucker Asset Management LLC acquired a new stake in shares of Union Pacific during the fourth quarter worth $25,000. SWAN Capital LLC grew its holdings in shares of Union Pacific by 2,575.0% during the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator's stock valued at $25,000 after buying an additional 103 shares during the last quarter. High Point Wealth Management LLC acquired a new position in shares of Union Pacific in the 4th quarter valued at $26,000. Finally, Caitlin John LLC purchased a new position in Union Pacific in the 3rd quarter worth $27,000. 80.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Union Pacific from $267.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Susquehanna reiterated a "positive" rating and issued a $305.00 target price on shares of Union Pacific in a research report on Friday, June 5th. Raymond James Financial set a $310.00 price target on shares of Union Pacific in a report on Friday, April 24th. UBS Group reissued a "neutral" rating and set a $274.00 price target (up from $253.00) on shares of Union Pacific in a research report on Friday, April 24th. Finally, TD Cowen raised their price target on shares of Union Pacific from $256.00 to $282.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $282.21.

Union Pacific Trading Up 0.6%

Union Pacific stock opened at $260.07 on Thursday. The firm has a market cap of $154.41 billion, a PE ratio of 21.42, a P/E/G ratio of 2.74 and a beta of 0.97. Union Pacific Corporation has a 12 month low of $210.84 and a 12 month high of $279.70. The stock's 50 day simple moving average is $264.31 and its two-hundred day simple moving average is $250.45. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.53.

Union Pacific (NYSE:UNP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The railroad operator reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.07. Union Pacific had a net margin of 29.20% and a return on equity of 39.58%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the firm earned $2.70 EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Union Pacific Corporation will post 12.55 earnings per share for the current year.

Union Pacific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a yield of 2.1%. Union Pacific's payout ratio is presently 45.47%.

Insiders Place Their Bets

In other news, EVP Kenyatta G. Rocker sold 27,387 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $271.76, for a total transaction of $7,442,691.12. Following the sale, the executive vice president directly owned 61,102 shares in the company, valued at $16,605,079.52. This trade represents a 30.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer L. Hamann sold 2,000 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $274.70, for a total value of $549,400.00. Following the sale, the chief financial officer owned 114,642 shares in the company, valued at $31,492,157.40. This trade represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 32,378 shares of company stock worth $8,781,595. Company insiders own 0.22% of the company's stock.

Union Pacific Company 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.

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