Assenagon Asset Management S.A. Acquires 338,891 Shares of Union Pacific Corporation $UNP

Key Points

• Assenagon Asset Management S.A. increased its shares in Union Pacific Corporation by 52.3% during the second quarter, owning a total of 986,316 shares worth approximately $226.9 million.
• Union Pacific reported earnings of $3.03 per share, exceeding analysts' expectations, with a quarterly revenue of $6.15 billion, reflecting a 2.4% year-over-year increase.
• The company announced an increase in its quarterly dividend to $1.38 per share, which translates to an annualized dividend of $5.52 and a yield of 2.5%.

Assenagon Asset Management S.A. grew its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 52.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 986,316 shares of the railroad operator's stock after purchasing an additional 338,891 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of Union Pacific worth $226,932,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its stake in shares of Union Pacific by 103.5% in the first quarter. Highline Wealth Partners LLC now owns 116 shares of the railroad operator's stock worth $27,000 after buying an additional 59 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Union Pacific by 1,400.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 120 shares of the railroad operator's stock worth $28,000 after purchasing an additional 112 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Union Pacific in the first quarter worth $32,000. WPG Advisers LLC acquired a new position in Union Pacific in the first quarter worth $33,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Union Pacific by 50.5% in the first quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock worth $37,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 80.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Union Pacific from $257.00 to $276.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $263.00 price objective on shares of Union Pacific in a report on Monday, June 2nd. Baird R W raised shares of Union Pacific to a "hold" rating in a report on Tuesday, July 1st. Barclays cut shares of Union Pacific from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 30th. Finally, UBS Group lifted their price objective on shares of Union Pacific from $238.00 to $240.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $259.38.

Union Pacific Stock Up 0.5%

Shares of NYSE UNP traded up $1.06 during trading hours on Tuesday, hitting $226.91. The stock had a trading volume of 1,389,741 shares, compared to its average volume of 3,543,749. The company has a market capitalization of $134.57 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.14 and a beta of 1.03. The firm's 50-day moving average price is $222.51 and its two-hundred day moving average price is $224.70. Union Pacific Corporation has a 52 week low of $204.66 and a 52 week high of $256.84. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.53 and a current ratio of 0.65.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The railroad operator reported $3.03 EPS for the quarter, beating the consensus estimate of $2.84 by $0.19. The business had revenue of $6.15 billion during the quarter, compared to analysts' expectations of $6.09 billion. Union Pacific had a return on equity of 41.73% and a net margin of 28.43%.The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.74 EPS. Analysts anticipate that Union Pacific Corporation will post 11.99 EPS for the current fiscal year.

Union Pacific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $1.38 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from Union Pacific's previous quarterly dividend of $1.34. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.4%. Union Pacific's dividend payout ratio is currently 47.96%.

Union Pacific Profile

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.