IVY Lane Capital Management LLC Acquires 5,000 Shares of Union Pacific Corporation $UNP

Key Points

• IVY Lane Capital Management increased its Union Pacific stake by 25% in Q1, buying 5,000 more shares and bringing its total to 25,000 shares worth about $6.07 million.
• Insider selling was notable, with EVP Kenyatta G. Rocker and CFO Jennifer L. Hamann selling shares in April; insiders have sold 32,378 shares worth about $8.78 million over the past 90 days.
• Union Pacific reported better-than-expected Q1 earnings and revenue, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $299.11.

IVY Lane Capital Management LLC grew its holdings in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the railroad operator's stock after buying an additional 5,000 shares during the period. Union Pacific accounts for about 9.2% of IVY Lane Capital Management LLC's holdings, making the stock its 4th largest holding. IVY Lane Capital Management LLC's holdings in Union Pacific were worth $6,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. ABN Amro Investment Solutions increased its holdings in shares of Union Pacific by 2.3% in the 1st quarter. ABN Amro Investment Solutions now owns 53,158 shares of the railroad operator's stock valued at $12,897,000 after acquiring an additional 1,174 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in Union Pacific during the first quarter worth approximately $389,000. Andra AP fonden lifted its stake in Union Pacific by 532.1% during the first quarter. Andra AP fonden now owns 76,473 shares of the railroad operator's stock worth $18,554,000 after purchasing an additional 64,375 shares during the last quarter. Glenview Trust Co boosted its holdings in Union Pacific by 2.6% in the first quarter. Glenview Trust Co now owns 136,268 shares of the railroad operator's stock valued at $33,061,000 after purchasing an additional 3,418 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its holdings in Union Pacific by 0.8% in the first quarter. Convergence Investment Partners LLC now owns 5,289 shares of the railroad operator's stock valued at $1,283,000 after purchasing an additional 43 shares in the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kenyatta G. Rocker sold 27,387 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $271.76, for a total transaction of $7,442,691.12. Following the completion of the sale, the executive vice president owned 61,102 shares in the company, valued at $16,605,079.52. This represents a 30.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer L. Hamann sold 2,000 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $274.70, for a total transaction of $549,400.00. Following the transaction, the chief financial officer directly owned 114,642 shares in the company, valued at $31,492,157.40. The trade was a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,378 shares of company stock valued at $8,781,595 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on UNP. JPMorgan Chase & Co. increased their price target on shares of Union Pacific from $275.00 to $304.00 and gave the company a "neutral" rating in a research note on Friday, July 10th. Sanford C. Bernstein upped their target price on shares of Union Pacific from $289.00 to $293.00 and gave the company an "outperform" rating in a report on Tuesday, March 31st. Stephens raised shares of Union Pacific to a "strong-buy" rating in a research report on Wednesday, July 8th. Evercore reaffirmed an "outperform" rating and issued a $294.00 target price on shares of Union Pacific in a research report on Thursday, June 25th. Finally, UBS Group reiterated a "neutral" rating and set a $274.00 price target (up from $253.00) on shares of Union Pacific in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $299.11.

Union Pacific Trading Down 1.1%

NYSE:UNP opened at $293.07 on Wednesday. The stock's 50 day moving average price is $273.12 and its 200 day moving average price is $257.03. The company has a market capitalization of $174.00 billion, a PE ratio of 24.14, a P/E/G ratio of 3.10 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.53. Union Pacific Corporation has a 52-week low of $210.84 and a 52-week high of $303.15.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The railroad operator reported $2.93 EPS for the quarter, topping the consensus estimate of $2.86 by $0.07. Union Pacific had a return on equity of 39.58% and a net margin of 29.20%.The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the company posted $2.70 earnings per share. The firm's revenue was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that Union Pacific Corporation will post 12.62 EPS for the current year.

Union Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Union Pacific's payout ratio is presently 45.47%.

About Union Pacific

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.

Want to see what other hedge funds are holding UNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Pacific Corporation (NYSE:UNP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.