Assenagon Asset Management S.A. Has $62.03 Million Stake in Union Pacific Corporation $UNP

Key Points

• Assenagon Asset Management cut its Union Pacific stake by 48.9% in the second quarter, selling 218,166 shares and retaining 228,061 shares worth approximately $62.03 million. Institutional investors and hedge funds collectively own 80.38% of the company.
• Analysts remain broadly positive, with Union Pacific receiving a consensus “Moderate Buy” rating and an average price target of $320.89. Recent upgrades and target increases included Benchmark’s $335 target and Citizens JMP’s $350 target.
• Union Pacific exceeded quarterly expectations, reporting $3.41 in EPS and $6.86 billion in revenue, with revenue up 11.5% year over year. The company also raised its quarterly dividend to $1.42 per share, implying a 1.9% annualized yield.

Assenagon Asset Management S.A. trimmed its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 48.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,061 shares of the railroad operator's stock after selling 218,166 shares during the period. Assenagon Asset Management S.A.'s holdings in Union Pacific were worth $62,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Tucker Asset Management LLC purchased a new stake in Union Pacific during the fourth quarter worth about $25,000. SWAN Capital LLC lifted its position in shares of Union Pacific by 2,575.0% during the 4th quarter. SWAN Capital LLC now owns 107 shares of the railroad operator's stock valued at $25,000 after acquiring an additional 103 shares during the period. Rachor Investment Advisory Services LLC purchased a new stake in shares of Union Pacific during the 4th quarter worth approximately $25,000. High Point Wealth Management LLC purchased a new stake in shares of Union Pacific during the 4th quarter worth approximately $26,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Union Pacific in the 1st quarter worth approximately $27,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stephens upgraded shares of Union Pacific to a "strong-buy" rating in a research report on Wednesday, July 8th. Benchmark lifted their target price on shares of Union Pacific from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Citizens Jmp started coverage on shares of Union Pacific in a report on Wednesday, July 15th. They issued an "outperform" rating and a $350.00 price target on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Union Pacific in a research report on Monday, July 13th. Finally, Susquehanna lifted their price objective on Union Pacific from $305.00 to $333.00 and gave the stock a "positive" rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Union Pacific has an average rating of "Moderate Buy" and a consensus price target of $320.89.

Union Pacific Trading Down 0.8%

Shares of UNP stock opened at $292.98 on Friday. Union Pacific Corporation has a 1 year low of $210.84 and a 1 year high of $315.99. The firm has a market capitalization of $174.05 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 3.02 and a beta of 0.96. The stock has a fifty day moving average of $280.13 and a two-hundred day moving average of $262.83. 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 for the quarter, topping analysts' consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.03 EPS. As a group, research analysts expect that Union Pacific Corporation will post 12.9 EPS for the current year.

Union Pacific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. 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 yield of 1.9%. Union Pacific's dividend payout ratio is presently 44.70%.

Insider Transactions at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction that occurred 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 transaction, the executive vice president owned 43,012 shares of the company's stock, valued at $11,353,447.52. The trade was a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

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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