Bank of Nova Scotia Has $17.74 Million Stock Position in Union Pacific Corporation $UNP

Key Points

• Bank of Nova Scotia cut its stake in Union Pacific by 71.9% in Q3, selling 191,647 shares and retaining 75,034 shares valued at about $17.74 million.
• Union Pacific missed the quarter with EPS of $2.86 (vs. $2.92 est.) and revenue of $6.09B (vs. $6.15B), but posted strong profitability (net margin 29.12%, ROE 40.89%) and declared a quarterly dividend of $1.38 (annualized $5.52, yield 2.3%; ex-dividend Feb 27).

Bank of Nova Scotia lowered its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 71.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,034 shares of the railroad operator's stock after selling 191,647 shares during the period. Bank of Nova Scotia's holdings in Union Pacific were worth $17,736,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC bought a new stake in Union Pacific during the 3rd quarter valued at $3,162,000. 44 Wealth Management LLC lifted its stake in shares of Union Pacific by 17.1% in the third quarter. 44 Wealth Management LLC now owns 13,498 shares of the railroad operator's stock valued at $3,191,000 after buying an additional 1,976 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Union Pacific by 53.2% in the third quarter. Alliancebernstein L.P. now owns 2,342,161 shares of the railroad operator's stock valued at $553,617,000 after buying an additional 813,735 shares in the last quarter. New England Asset Management Inc. grew its holdings in shares of Union Pacific by 0.6% during the third quarter. New England Asset Management Inc. now owns 16,100 shares of the railroad operator's stock valued at $3,806,000 after buying an additional 95 shares during the last quarter. Finally, SummitTX Capital L.P. grew its holdings in shares of Union Pacific by 1,836.3% during the third quarter. SummitTX Capital L.P. now owns 21,299 shares of the railroad operator's stock valued at $5,034,000 after buying an additional 20,199 shares during the last quarter. Institutional investors and hedge funds own 80.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna restated a "buy" rating on shares of Union Pacific in a report on Monday, January 19th. Barclays reiterated an "overweight" rating and set a $285.00 price target (up from $270.00) on shares of Union Pacific in a research note on Tuesday, December 16th. The Goldman Sachs Group reissued a "neutral" rating and set a $267.00 price objective on shares of Union Pacific in a report on Tuesday, January 27th. JPMorgan Chase & Co. lowered their price objective on Union Pacific from $270.00 to $265.00 and set a "neutral" rating for the company in a research note on Wednesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft set a $245.00 target price on Union Pacific in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Union Pacific currently has an average rating of "Moderate Buy" and an average price target of $263.77.

Union Pacific Price Performance

Union Pacific stock opened at $242.27 on Tuesday. Union Pacific Corporation has a 52 week low of $204.66 and a 52 week high of $268.14. The company's 50 day moving average price is $246.68 and its two-hundred day moving average price is $234.04. The stock has a market cap of $143.76 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.65 and a beta of 0.95. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 1.64.

Union Pacific (NYSE:UNP - Get Free Report) last released its earnings results on Tuesday, January 27th. The railroad operator reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($0.06). The business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $6.15 billion. Union Pacific had a net margin of 29.12% and a return on equity of 40.89%. The business's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.91 earnings per share. On average, equities analysts predict that Union Pacific Corporation will post 11.99 earnings per share for the current year.

Union Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 27th. Union Pacific's dividend payout ratio is 46.12%.

About Union Pacific

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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