Baxter Bros Inc. Reduces Stake in Union Pacific Corporation $UNP

Key Points

• Baxter Bros Inc. decreased its stake in Union Pacific Corporation by 1.7%, holding 102,753 shares worth approximately $23.6 million, making it the firm's 10th largest position.
• Union Pacific reported earnings per share of $3.03 for the last quarter, surpassing analysts' expectations, with a revenue of $6.15 billion, up 2.4% year-over-year.
• The company recently increased its quarterly dividend to $1.38 from $1.34, resulting in an annualized dividend of $5.52 and a yield of 2.4%.

Baxter Bros Inc. reduced its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,753 shares of the railroad operator's stock after selling 1,794 shares during the period. Union Pacific makes up about 2.9% of Baxter Bros Inc.'s investment portfolio, making the stock its 10th largest position. Baxter Bros Inc.'s holdings in Union Pacific were worth $23,641,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in Union Pacific by 2.0% in the 1st quarter. Northern Trust Corp now owns 7,105,382 shares of the railroad operator's stock worth $1,678,575,000 after buying an additional 142,732 shares during the period. Price T Rowe Associates Inc. MD increased its position in Union Pacific by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,949,345 shares of the railroad operator's stock worth $1,641,715,000 after buying an additional 354,463 shares during the period. Royal Bank of Canada increased its position in Union Pacific by 1.7% in the 1st quarter. Royal Bank of Canada now owns 5,105,784 shares of the railroad operator's stock worth $1,206,191,000 after buying an additional 86,292 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Union Pacific by 10.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,626,200 shares of the railroad operator's stock worth $1,092,893,000 after purchasing an additional 452,788 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Union Pacific during the 1st quarter worth approximately $988,822,000. 80.38% of the stock is owned by institutional investors.

Union Pacific Price Performance

Shares of UNP stock opened at $232.72 on Thursday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.65 and a quick ratio of 0.53. The firm has a market cap of $138.03 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.41 and a beta of 1.07. The stock's fifty day simple moving average is $224.14 and its 200 day simple moving average is $224.57. Union Pacific Corporation has a one year low of $204.66 and a one year high of $256.84.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The railroad operator reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.19. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.09 billion. Union Pacific had a return on equity of 41.73% and a net margin of 28.43%.The business's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.74 earnings per share. On average, analysts expect that Union Pacific Corporation will post 11.99 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a $1.38 dividend. This is an increase from Union Pacific's previous quarterly dividend of $1.34. This represents a $5.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 29th. Union Pacific's payout ratio is presently 47.96%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Loop Capital raised Union Pacific from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $214.00 to $227.00 in a report on Tuesday, September 16th. Raymond James Financial reissued a "strong-buy" rating on shares of Union Pacific in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on Union Pacific from $220.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Citigroup raised Union Pacific from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $250.00 to $251.00 in a report on Monday, September 15th. Finally, Baird R W raised Union Pacific to a "hold" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $261.08.

Union Pacific Profile

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.

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