Greg Jennings LLC Makes New Investment in Union Pacific Corporation $UNP

Key Points

• Greg Jennings LLC purchased 9,599 shares of Union Pacific valued at approximately $2.61 million, making the railroad operator 1.8% of the fund’s portfolio and its 19th-largest holding.
• Institutional ownership remains high at 80.38%, with several other investors recently increasing their UNP positions or initiating new stakes.
• Union Pacific reported quarterly EPS of $3.41, surpassing estimates, while revenue rose 11.5% year over year. The company also raised its quarterly dividend to $1.42, and analysts assign the stock a “Moderate Buy” rating with an average price target of $325.

Greg Jennings LLC purchased a new position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,599 shares of the railroad operator's stock, valued at approximately $2,612,000. Union Pacific makes up approximately 1.8% of Greg Jennings LLC's holdings, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of UNP. BNP Paribas lifted its holdings in shares of Union Pacific by 21.5% during the second quarter. BNP Paribas now owns 60,465 shares of the railroad operator's stock valued at $16,454,000 after acquiring an additional 10,706 shares during the period. QRG Capital Management Inc. increased its position in shares of Union Pacific by 9.4% during the 2nd quarter. QRG Capital Management Inc. now owns 102,949 shares of the railroad operator's stock worth $28,002,000 after purchasing an additional 8,842 shares in the last quarter. Eastern Bank increased its position in shares of Union Pacific by 2.6% during the 3rd quarter. Eastern Bank now owns 214,567 shares of the railroad operator's stock worth $58,390,000 after purchasing an additional 5,380 shares in the last quarter. KBC Group NV increased its position in shares of Union Pacific by 17.7% during the 2nd quarter. KBC Group NV now owns 108,489 shares of the railroad operator's stock worth $29,509,000 after purchasing an additional 16,295 shares in the last quarter. Finally, Axiom Investment Management LLC bought a new position in Union Pacific during the 1st quarter valued at about $9,151,000. Institutional investors own 80.38% of the company's stock.

Union Pacific Price Performance

NYSE UNP traded down $1.71 on Monday, hitting $287.33. 1,739,671 shares of the company were exchanged, compared to its average volume of 2,966,545. Union Pacific Corporation has a 1-year low of $215.53 and a 1-year high of $315.99. The firm has a 50 day moving average of $287.73 and a two-hundred day moving average of $276.87. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40. The company has a market cap of $170.70 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.87 and a beta of 0.95.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.15. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The firm had revenue of $6.86 billion during the quarter, compared to analysts' expectations of $6.72 billion. During the same quarter last year, the company posted $3.03 EPS. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Union Pacific Corporation will post 13.05 EPS for the current year.

Union Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, August 31st were given a $1.42 dividend. This is a boost from Union Pacific's previous quarterly dividend of $1.38. The ex-dividend date was Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 2.0%. Union Pacific's dividend payout ratio is presently 45.99%.

Wall Street Analysts Forecast Growth

UNP has been the subject of several recent analyst reports. Erste Group Bank began coverage on shares of Union Pacific in a report on Thursday, August 27th. They set a "buy" rating for the company. Bank of America lifted their target price on shares of Union Pacific from $301.00 to $334.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group set a $317.00 target price on Union Pacific and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Benchmark increased their price target on Union Pacific from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Robert W. Baird increased their price target on Union Pacific from $311.00 to $344.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Union Pacific has an average rating of "Moderate Buy" and an average price target of $325.00.

About Union Pacific

Union Pacific Corporation NYSE: UNP is a transportation company that operates one of the largest freight railroad networks in the United States. Through its Union Pacific Railroad subsidiary, the company moves goods across the western two-thirds of the country, connecting major agricultural, industrial, energy, population and port markets.

Union Pacific transports a broad range of commodities and products, including agricultural goods, automotive shipments, chemicals, coal, industrial products, forest products and intermodal containers.

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