Eastern Bank Sells 1,710 Shares of Union Pacific Corporation (NYSE:UNP)

Key Points

• Eastern Bank reduced its stake in Union Pacific Corporation by 4.8%, selling 1,710 shares, which leaves it with 33,671 shares worth approximately $7.95 million.
• Union Pacific reported a quarterly earnings per share (EPS) of $3.03, exceeding analysts' expectations of $2.84, with a year-over-year revenue increase of 2.4%.
• The company announced a quarterly dividend of $1.38, reflecting an increase from the previous dividend of $1.34, resulting in an annualized yield of 2.47%.

Eastern Bank reduced its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,671 shares of the railroad operator's stock after selling 1,710 shares during the quarter. Eastern Bank's holdings in Union Pacific were worth $7,954,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC grew its holdings in shares of Union Pacific by 103.5% during the first quarter. Highline Wealth Partners LLC now owns 116 shares of the railroad operator's stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Union Pacific during the first quarter worth $32,000. EnRich Financial Partners LLC bought a new stake in shares of Union Pacific during the fourth quarter worth $31,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Union Pacific by 38.8% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock worth $39,000 after purchasing an additional 45 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Union Pacific by 50.5% during the first quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock worth $37,000 after purchasing an additional 56 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Union Pacific Stock Down 1.2%

Shares of NYSE UNP traded down $2.66 during mid-day trading on Friday, reaching $219.31. 4,637,305 shares of the company's stock were exchanged, compared to its average volume of 4,972,172. The business has a fifty day simple moving average of $227.09 and a 200 day simple moving average of $230.93. Union Pacific Corporation has a twelve month low of $204.66 and a twelve month high of $258.07. The firm has a market capitalization of $130.06 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.16 and a beta of 1.06. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 1.86.

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

Union Pacific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given 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 yield of 2.5%. This is a boost from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's payout ratio is 46.57%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on UNP shares. Stephens decreased their target price on Union Pacific from $275.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Jefferies Financial Group upgraded Union Pacific from a "hold" rating to a "buy" rating and increased their target price for the stock from $250.00 to $285.00 in a report on Friday, July 25th. Royal Bank Of Canada increased their target price on Union Pacific from $257.00 to $276.00 and gave the stock an "outperform" rating in a report on Wednesday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $263.00 price target on shares of Union Pacific in a report on Monday, June 2nd. Finally, Bank of America raised their price target on Union Pacific from $256.00 to $262.00 and gave the company a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.