Cary Street Partners Financial LLC Decreases Stake in Union Pacific Corporation (NYSE:UNP)

Key Points

• Cary Street Partners Financial LLC significantly reduced its stake in Union Pacific Corporation by 39.1% in the first quarter, holding 8,479 shares valued at approximately $2,003,000.
• Union Pacific recently reported earnings of $3.03 per share, exceeding analysts' estimates, with a revenue increase of 2.4% year-over-year, totaling $6.15 billion.
• The company announced an increased quarterly dividend of $1.38, raising its annualized dividend yield to 2.4%, with a payout ratio of 46.57%.

Cary Street Partners Financial LLC decreased its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 39.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,479 shares of the railroad operator's stock after selling 5,443 shares during the period. Cary Street Partners Financial LLC's holdings in Union Pacific were worth $2,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Advyzon Investment Management LLC raised its stake in shares of Union Pacific by 10.5% in the 1st quarter. Advyzon Investment Management LLC now owns 1,975 shares of the railroad operator's stock valued at $466,000 after acquiring an additional 187 shares during the period. New Age Alpha Advisors LLC raised its position in Union Pacific by 753.5% in the first quarter. New Age Alpha Advisors LLC now owns 43,334 shares of the railroad operator's stock valued at $10,237,000 after purchasing an additional 38,257 shares during the period. Wills Financial Group LLC acquired a new position in shares of Union Pacific during the first quarter worth about $6,034,000. ING Groep NV acquired a new stake in shares of Union Pacific in the first quarter valued at about $46,507,000. Finally, NewEdge Wealth LLC raised its holdings in shares of Union Pacific by 7.1% during the 1st quarter. NewEdge Wealth LLC now owns 115,440 shares of the railroad operator's stock valued at $27,271,000 after buying an additional 7,676 shares during the period. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Stock Performance

UNP stock opened at $225.50 on Thursday. The company has a 50-day simple moving average of $227.07 and a 200 day simple moving average of $230.66. The company has a market capitalization of $133.73 billion, a P/E ratio of 19.59, a PEG ratio of 2.17 and a beta of 1.05. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 1.86. Union Pacific Corporation has a fifty-two week low of $204.66 and a fifty-two week high of $258.07.

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

Union Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's dividend payout ratio (DPR) is presently 46.57%.

Analyst Upgrades and Downgrades

UNP has been the subject of a number of analyst reports. Baird R W upgraded Union Pacific to a "hold" rating in a report on Tuesday, July 1st. Citigroup downgraded shares of Union Pacific from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $270.00 to $250.00 in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their target price on Union Pacific from $257.00 to $276.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Sanford C. Bernstein increased their price target on Union Pacific from $271.00 to $286.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Stifel Nicolaus cut their target price on Union Pacific from $270.00 to $248.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Union Pacific presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.21.

About Union Pacific

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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