Corient Private Wealth LP Takes $139.05 Million Position in Union Pacific Corporation $UNP

Key Points

• Corient Private Wealth LP acquired 511,200 Union Pacific shares in the second quarter, establishing a position worth approximately $139.05 million and representing 0.09% of the railroad operator.
• Analysts remain broadly positive, with Union Pacific carrying a “Moderate Buy” consensus rating and an average price target of $320.89. Several firms recently raised their targets to between $325 and $334.
• Union Pacific beat quarterly earnings and revenue estimates, reporting $3.41 in EPS on $6.86 billion in revenue, while increasing its quarterly dividend to $1.42 per share from $1.38.

Corient Private Wealth LP acquired a new stake in Union Pacific Corporation (NYSE:UNP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 511,200 shares of the railroad operator's stock, valued at approximately $139,046,000. Corient Private Wealth LP owned 0.09% of Union Pacific at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UNP. State Street Corp grew its stake in shares of Union Pacific by 4.3% in the 4th quarter. State Street Corp now owns 26,330,080 shares of the railroad operator's stock valued at $6,090,674,000 after buying an additional 1,082,285 shares during the period. Capital World Investors raised its position in shares of Union Pacific by 92.1% during the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator's stock valued at $4,658,142,000 after buying an additional 9,655,306 shares during the period. Geode Capital Management LLC raised its position in shares of Union Pacific by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 15,360,668 shares of the railroad operator's stock valued at $3,552,550,000 after buying an additional 296,814 shares during the period. Bank of America Corp DE lifted its holdings in Union Pacific by 0.4% in the second quarter. Bank of America Corp DE now owns 14,527,563 shares of the railroad operator's stock valued at $3,951,497,000 after acquiring an additional 64,492 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Union Pacific by 5.0% in the fourth quarter. Morgan Stanley now owns 12,636,050 shares of the railroad operator's stock valued at $2,922,971,000 after acquiring an additional 602,647 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UNP. TD Cowen reissued a "buy" rating and set a $325.00 target price (up from $282.00) on shares of Union Pacific in a research note on Friday, July 24th. Susquehanna upped their price target on Union Pacific from $305.00 to $333.00 and gave the company a "positive" rating in a research note on Tuesday, July 14th. Bank of America upped their price target on Union Pacific from $301.00 to $334.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. UBS Group reissued a "neutral" rating and set a $310.00 price objective (up from $286.00) on shares of Union Pacific in a research report on Friday, July 24th. Finally, The Goldman Sachs Group set a $317.00 price objective on shares of Union Pacific and gave the company a "neutral" rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $320.89.

Insider Activity at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president owned 43,012 shares of the company's stock, valued at approximately $11,353,447.52. This trade represents a 6.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company's stock.

Union Pacific Price Performance

Shares of UNP opened at $311.21 on Thursday. The firm has a market capitalization of $184.88 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.16 and a beta of 0.96. The firm's fifty day simple moving average is $289.07 and its 200-day simple moving average is $269.15. Union Pacific Corporation has a twelve month low of $210.84 and a twelve month high of $315.99. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40.

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

Union Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 31st. This is an increase from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's dividend payout ratio (DPR) is currently 44.70%.

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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