Bank of New York Mellon Corp Boosts Stake in Union Pacific Corporation $UNP

Key Points

• Bank of New York Mellon increased its Union Pacific stake by 5.7% in the second quarter, owning 3.82 million shares worth approximately $1.04 billion. Institutional investors collectively hold 80.38% of the railroad operator.
• Union Pacific reported quarterly EPS of $3.41, exceeding the $3.26 consensus estimate, while revenue reached $6.86 billion and rose 11.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89. The company also raised its quarterly dividend to $1.42 per share, equivalent to a 1.9% annual yield.

Bank of New York Mellon Corp boosted its stake in Union Pacific Corporation (NYSE:UNP - Free Report) by 5.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,815,288 shares of the railroad operator's stock after purchasing an additional 204,794 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Union Pacific worth $1,037,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of Union Pacific by 40.4% in the first quarter. Acadian Asset Management LLC now owns 2,312 shares of the railroad operator's stock valued at $546,000 after purchasing an additional 665 shares during the period. Schnieders Capital Management LLC. increased its stake in Union Pacific by 0.5% during the 2nd quarter. Schnieders Capital Management LLC. now owns 20,606 shares of the railroad operator's stock worth $4,741,000 after buying an additional 102 shares during the period. Main Street Financial Solutions LLC lifted its holdings in Union Pacific by 1.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,733 shares of the railroad operator's stock worth $859,000 after buying an additional 58 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in Union Pacific by 10.0% during the 2nd quarter. HUB Investment Partners LLC now owns 6,091 shares of the railroad operator's stock worth $1,401,000 after buying an additional 554 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Union Pacific by 7.4% in the 2nd quarter. Alliancebernstein L.P. now owns 1,528,426 shares of the railroad operator's stock valued at $351,660,000 after buying an additional 105,664 shares during the period. Hedge funds and other institutional investors own 80.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on UNP. The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. UBS Group reiterated a "neutral" rating and issued a $310.00 target price (up from $286.00) on shares of Union Pacific in a report on Friday, July 24th. Robert W. Baird boosted their target price on Union Pacific from $311.00 to $344.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Raymond James Financial restated a "strong-buy" rating on shares of Union Pacific in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price target on Union Pacific from $304.00 to $334.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $320.89.

Union Pacific Stock Up 0.8%

Shares of NYSE UNP opened at $304.34 on Friday. The business has a 50-day moving average of $285.59 and a two-hundred day moving average of $267.31. The company has a market capitalization of $180.80 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. Union Pacific Corporation has a 1 year low of $210.84 and a 1 year high of $315.99. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.82.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.15. The business had revenue of $6.86 billion for 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $3.03 EPS. On average, analysts forecast that Union Pacific Corporation will post 12.93 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a dividend of $1.42 per share. The ex-dividend date is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.9%. This is an increase from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's dividend payout ratio (DPR) is 44.70%.

Insider Buying and Selling

In related news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president directly owned 43,012 shares in the company, valued at $11,353,447.52. This trade represents a 6.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Union Pacific 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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