Bahl & Gaynor Inc. Raises Position in Union Pacific Corporation $UNP

Key Points

• Bahl & Gaynor Inc. significantly increased its stake in Union Pacific Corporation, raising their holdings by 146.5% to nearly $87.08 million during the first quarter.
• Union Pacific recently reported earnings of $3.03 per share, exceeding analyst expectations, with revenues of $6.15 billion for the quarter, indicating a year-over-year revenue growth of 2.4%.
• The company has announced an increase in its quarterly dividend to $1.38 per share, reflecting a positive shift in its dividend policy.

Bahl & Gaynor Inc. grew its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 146.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,615 shares of the railroad operator's stock after acquiring an additional 219,075 shares during the period. Bahl & Gaynor Inc. owned about 0.06% of Union Pacific worth $87,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Financial Bank Trust Division raised its stake in shares of Union Pacific by 1.7% during the first quarter. First Financial Bank Trust Division now owns 2,803 shares of the railroad operator's stock valued at $662,000 after acquiring an additional 47 shares during the last quarter. Stiles Financial Services Inc raised its stake in shares of Union Pacific by 1.6% during the first quarter. Stiles Financial Services Inc now owns 2,963 shares of the railroad operator's stock valued at $700,000 after acquiring an additional 48 shares during the last quarter. Avalon Trust Co raised its stake in shares of Union Pacific by 5.1% during the first quarter. Avalon Trust Co now owns 1,004 shares of the railroad operator's stock valued at $237,000 after acquiring an additional 49 shares during the last quarter. Mather Group LLC. raised its stake in shares of Union Pacific by 1.7% during the first quarter. Mather Group LLC. now owns 3,041 shares of the railroad operator's stock valued at $718,000 after acquiring an additional 50 shares during the last quarter. Finally, Mystic Asset Management Inc. raised its stake in shares of Union Pacific by 2.2% during the first quarter. Mystic Asset Management Inc. now owns 2,359 shares of the railroad operator's stock valued at $557,000 after acquiring an additional 50 shares during the last quarter. 80.38% of the stock is owned by institutional investors.

Union Pacific Stock Down 2.0%

NYSE UNP traded down $4.4920 during trading hours on Monday, reaching $223.3580. 5,992,964 shares of the company's stock traded hands, compared to its average volume of 5,089,488. Union Pacific Corporation has a 52-week low of $204.66 and a 52-week high of $258.07. The firm has a market cap of $132.46 billion, a PE ratio of 19.41, a PEG ratio of 2.21 and a beta of 1.05. The firm has a 50-day simple moving average of $226.97 and a 200 day simple moving average of $228.45. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.65 and a quick ratio of 0.53.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, topping 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 net margin of 28.43% and a return on equity of 41.73%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.74 earnings per share. Sell-side 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. Shareholders of record on Friday, August 29th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.5%. This is a boost from Union Pacific's previous quarterly dividend of $1.34. The ex-dividend date of this dividend is Friday, August 29th. Union Pacific's dividend payout ratio is presently 46.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Susquehanna cut their target price on shares of Union Pacific from $260.00 to $257.00 and set a "positive" rating on the stock in a research note on Wednesday, July 30th. Citigroup lowered shares of Union Pacific from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $270.00 to $250.00 in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $263.00 target price on shares of Union Pacific in a research note on Monday, June 2nd. Royal Bank Of Canada lifted their target price on shares of Union Pacific from $257.00 to $276.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Bank of America lifted their target price on shares of Union Pacific from $256.00 to $262.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.21.

About Union Pacific

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.