Bank of Nova Scotia Invests $14.40 Million in Union Pacific Corporation $UNP

Bank of Nova Scotia bought a new stake in Union Pacific Corporation (NYSE:UNP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 52,929 shares of the railroad operator's stock, valued at approximately $14,397,000.

A number of other large investors have also recently made changes to their positions in UNP. Tucker Asset Management LLC acquired a new position in Union Pacific during the fourth quarter worth approximately $25,000. SWAN Capital LLC boosted its stake in Union Pacific by 2,575.0% during the 4th quarter. SWAN Capital LLC now owns 107 shares of the railroad operator's stock worth $25,000 after purchasing an additional 103 shares during the period. Rachor Investment Advisory Services LLC purchased a new position in Union Pacific during the 4th quarter worth $25,000. High Point Wealth Management LLC purchased a new position in Union Pacific during the 4th quarter worth $26,000. Finally, Scarborough Advisors LLC acquired a new position in Union Pacific in the first quarter valued at $27,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Union Pacific from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Citizens Jmp began coverage on shares of Union Pacific in a research report on Wednesday, July 15th. They set an "outperform" rating and a $350.00 target price on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $339.00 target price (up from $289.00) on shares of Union Pacific in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Union Pacific from $304.00 to $334.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, TD Cowen reiterated a "buy" rating and set a $325.00 price target (up from $282.00) 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, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Union Pacific presently has a consensus rating of "Moderate Buy" and an average target price of $320.89.

Insiders Place Their Bets

In other news, EVP Eric J. Gehringer sold 2,991 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total value of $789,504.36. Following the completion of the transaction, the executive vice president directly owned 43,012 shares of the company's stock, valued at $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.22% of the company's stock.

Union Pacific Stock Performance

NYSE:UNP opened at $309.83 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $184.06 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 3.14 and a beta of 0.96. The firm has a 50-day moving average price of $287.14 and a two-hundred day moving average price of $268.31. Union Pacific Corporation has a twelve month low of $210.84 and a twelve month high of $315.99.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.15. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.72 billion. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 earnings per share. As a group, research analysts expect that Union Pacific Corporation will post 12.93 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. This is an increase from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's dividend payout ratio is currently 45.99%.

Union Pacific Company 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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