Glenmede Trust Co. NA Lowers Stake in Union Pacific Corporation $UNP

Key Points

• Glenmede Trust reduced its Union Pacific stake by 1.4% in the first quarter, selling 4,754 shares and retaining 323,611 shares worth approximately $78.5 million. Institutional investors collectively own 80.38% of the railroad operator.
• Union Pacific reported quarterly EPS of $3.41, beating estimates of $3.26, while revenue rose 11.5% year over year to $6.86 billion. Shares were recently trading at $291.83.
• The company raised its quarterly dividend from $1.38 to $1.42 per share, implying an annualized dividend of $5.68 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89.

Glenmede Trust Co. NA lessened its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,611 shares of the railroad operator's stock after selling 4,754 shares during the period. Glenmede Trust Co. NA owned about 0.05% of Union Pacific worth $78,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Union Pacific by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 59,329,262 shares of the railroad operator's stock valued at $13,724,045,000 after purchasing an additional 659,378 shares during the period. State Street Corp raised its stake in shares of Union Pacific by 4.3% during the 4th quarter. State Street Corp now owns 26,330,080 shares of the railroad operator's stock worth $6,090,674,000 after buying an additional 1,082,285 shares during the period. Capital World Investors lifted 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 in the last quarter. Geode Capital Management LLC grew its stake in Union Pacific by 2.0% in 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 acquiring an additional 296,814 shares during the period. Finally, Bank of America Corp DE increased its holdings in Union Pacific by 16.8% in the 1st quarter. Bank of America Corp DE now owns 14,463,071 shares of the railroad operator's stock worth $3,509,030,000 after acquiring an additional 2,084,808 shares in the last quarter. Hedge funds and other institutional investors own 80.38% of the company's stock.

Union Pacific Trading Up 0.8%

Shares of UNP opened at $291.83 on Friday. Union Pacific Corporation has a 52-week low of $210.84 and a 52-week high of $315.99. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm's fifty day moving average is $277.60 and its two-hundred day moving average is $260.55. The stock has a market cap of $173.37 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96.

Union Pacific (NYSE:UNP - Get Free Report) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.15. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates 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. Research analysts forecast that Union Pacific Corporation will post 12.9 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be given a dividend of $1.42 per share. The ex-dividend date is Monday, August 31st. This is a boost from Union Pacific's previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a yield of 1.9%. Union Pacific's dividend payout ratio (DPR) is presently 44.70%.

Insider Transactions at Union Pacific

In related news, EVP Eric J. Gehringer sold 2,991 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the completion of the sale, the executive vice president owned 43,012 shares of the company's stock, valued at approximately $11,353,447.52. This 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. Corporate insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on UNP. Benchmark increased their price objective on shares of Union Pacific from $325.00 to $335.00 and gave the company a "buy" rating in a report on Friday, July 24th. Bank of America upped their price target on shares of Union Pacific from $301.00 to $334.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the company a "neutral" rating in a research note on Thursday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $339.00 price objective (up from $289.00) on shares of Union Pacific in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Union Pacific from $304.00 to $334.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $320.89.

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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