Bank of New York Mellon Corp Sells 703,471 Shares of Union Pacific Corporation $UNP

Key Points

• Bank of New York Mellon reduced its Union Pacific stake by 15.8% in the fourth quarter, selling 703,471 shares and ending with 3,740,377 shares valued at about $865.2 million.
• Union Pacific beat earnings expectations for the latest quarter, reporting EPS of $2.93 versus the $2.86 consensus and revenue of $6.22 billion versus $6.12 billion expected.
• The company declared a quarterly dividend of $1.38 per share, payable June 30, which annualizes to $5.52 per share and a 2.1% yield.

Bank of New York Mellon Corp trimmed its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,740,377 shares of the railroad operator's stock after selling 703,471 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Union Pacific worth $865,224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Union Pacific during the fourth quarter worth $1,779,907,000. Capital World Investors raised its holdings in shares of Union Pacific by 193.3% in the third quarter. Capital World Investors now owns 10,481,043 shares of the railroad operator's stock valued at $2,477,404,000 after purchasing an additional 6,908,016 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Union Pacific by 95.0% in the third quarter. Capital Research Global Investors now owns 8,713,196 shares of the railroad operator's stock worth $2,059,538,000 after purchasing an additional 4,244,226 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Union Pacific by 72.7% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,177,002 shares of the railroad operator's stock worth $2,169,168,000 after purchasing an additional 3,861,636 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in Union Pacific during the third quarter worth $408,592,000. Institutional investors and hedge funds own 80.38% of the company's stock.

Union Pacific Stock Performance

Shares of UNP opened at $262.87 on Thursday. The company has a market cap of $156.07 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. The firm has a 50-day moving average of $258.23 and a 200-day moving average of $246.56. Union Pacific Corporation has a one year low of $210.84 and a one year high of $279.70. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.92 and a quick ratio of 0.73.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The railroad operator reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.86 by $0.07. The company had revenue of $6.22 billion for the quarter, compared to analysts' expectations of $6.12 billion. Union Pacific had a net margin of 29.20% and a return on equity of 39.58%. Union Pacific's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 EPS. As a group, equities analysts forecast that Union Pacific Corporation will post 12.53 earnings per share for the current year.

Union Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, May 29th. Union Pacific's payout ratio is currently 45.47%.

Insider Buying and Selling

In other Union Pacific news, EVP Kenyatta G. Rocker sold 27,387 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $271.76, for a total value of $7,442,691.12. Following the transaction, the executive vice president directly owned 61,102 shares of the company's stock, valued at $16,605,079.52. This represents a 30.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jennifer L. Hamann sold 2,000 shares of Union Pacific stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $274.70, for a total value of $549,400.00. Following the sale, the chief financial officer directly owned 114,642 shares of the company's stock, valued at approximately $31,492,157.40. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 31,386 shares of company stock valued at $8,461,716. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UNP has been the topic of several recent research reports. Robert W. Baird set a $311.00 price target on shares of Union Pacific and gave the company an "outperform" rating in a research note on Friday, March 6th. Sanford C. Bernstein increased their price objective on shares of Union Pacific from $289.00 to $293.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 31st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $300.00 target price (up from $260.00) on shares of Union Pacific in a research report on Friday, April 24th. Weiss Ratings upgraded Union Pacific from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, April 21st. Finally, UBS Group reissued a "neutral" rating and set a $274.00 price target (up from $253.00) on shares of Union Pacific in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $280.47.

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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