Bank of America Corp DE Boosts Stake in Union Pacific Corporation $UNP

Bank of America Corp DE boosted its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,527,563 shares of the railroad operator's stock after acquiring an additional 64,492 shares during the period. Bank of America Corp DE owned about 2.45% of Union Pacific worth $3,951,497,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Magnolia Capital Advisors LLC purchased a new position in shares of Union Pacific during the 2nd quarter valued at approximately $1,867,000. Freestone Grove Partners LP bought a new position in Union Pacific during the 2nd quarter worth approximately $3,961,000. Vazirani Asset Management LLC bought a new position in shares of Union Pacific in the 2nd quarter worth about $680,000. Caisse de depot et placement du Quebec bought a new position in shares of Union Pacific during the second quarter valued at approximately $17,080,000. Finally, Pointe Capital Management LLC acquired a new stake in shares of Union Pacific during the 2nd quarter worth approximately $878,000. Institutional investors and hedge funds own 80.38% of the company's stock.

Union Pacific Stock Up 0.2%

Shares of UNP opened at $285.01 on Tuesday. The company has a 50-day moving average price of $294.92 and a two-hundred day moving average price of $271.92. Union Pacific Corporation has a 12 month low of $214.32 and a 12 month high of $315.99. The stock has a market cap of $169.32 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.83 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.15. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.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 company posted $3.03 earnings per share. Equities analysts predict that Union Pacific Corporation will post 13.02 EPS for the current fiscal year.

Union Pacific Increases Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen restated a "buy" rating and issued a $325.00 target price (up from $282.00) on shares of Union Pacific in a research report on Friday, July 24th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $335.00 price target (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Benchmark boosted their price objective on 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 initiated coverage on shares of Union Pacific in a research note on Wednesday, July 15th. They set an "outperform" rating and a $350.00 price objective on the stock. Finally, UBS Group reiterated a "neutral" rating and issued a $310.00 price target (up from $286.00) on shares of Union Pacific in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Union Pacific currently has a consensus rating of "Moderate Buy" and an average target price of $320.89.

Union Pacific Company 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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