ICONIQ Capital LLC Increases Stake in Union Pacific Corporation $UNP

Key Points

• ICONIQ Capital LLC increased its stake in Union Pacific Corporation by 52.7%, bringing its total holdings to 4,263 shares valued at approximately $1,007,000.
• Union Pacific reported earnings of $3.03 per share for the last quarter, exceeding estimates by $0.19, with revenue also surpassing expectations at $6.15 billion.
• The company declared a quarterly dividend of $1.38 per share, up from $1.34, resulting in a dividend yield of 2.4% for shareholders on record.

ICONIQ Capital LLC grew its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 52.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,263 shares of the railroad operator's stock after buying an additional 1,472 shares during the quarter. ICONIQ Capital LLC's holdings in Union Pacific were worth $1,007,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Southeast Asset Advisors LLC raised its position in Union Pacific by 53.8% during the 1st quarter. Southeast Asset Advisors LLC now owns 2,005 shares of the railroad operator's stock worth $474,000 after buying an additional 701 shares during the last quarter. Hartree Partners LP acquired a new position in shares of Union Pacific during the 1st quarter worth $6,828,000. APG Asset Management N.V. grew its stake in shares of Union Pacific by 4.6% during the 1st quarter. APG Asset Management N.V. now owns 350,882 shares of the railroad operator's stock worth $76,738,000 after purchasing an additional 15,282 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Union Pacific by 8.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,728 shares of the railroad operator's stock worth $2,026,000 after purchasing an additional 664 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in shares of Union Pacific by 146.5% during the 1st quarter. Bahl & Gaynor Inc. now owns 368,615 shares of the railroad operator's stock worth $87,082,000 after purchasing an additional 219,075 shares during the period. Hedge funds and other institutional investors own 80.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $263.00 price target on shares of Union Pacific in a research note on Monday, June 2nd. Robert W. Baird assumed coverage on shares of Union Pacific in a research note on Tuesday, July 1st. They set a "neutral" rating and a $231.00 price target on the stock. Barclays cut shares of Union Pacific from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 30th. Raymond James Financial reissued a "strong-buy" rating on shares of Union Pacific in a research note on Tuesday, July 15th. Finally, BMO Capital Markets increased their price objective on shares of Union Pacific from $270.00 to $277.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Union Pacific has a consensus rating of "Moderate Buy" and a consensus price target of $258.21.

Union Pacific Price Performance

Union Pacific stock opened at $227.4770 on Friday. Union Pacific Corporation has a 12-month low of $204.66 and a 12-month high of $258.07. The stock has a market capitalization of $134.90 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.21 and a beta of 1.05. The firm's 50-day moving average is $226.99 and its two-hundred day moving average is $228.69. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.65 and a quick ratio of 0.53.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.09 billion. During the same period last year, the company earned $2.74 EPS. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that Union Pacific Corporation will post 11.99 earnings per share for the current year.

Union Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.52 annualized dividend and a dividend yield of 2.4%. This is an increase from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's dividend payout ratio is 47.96%.

Union Pacific Profile

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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