Mackenzie Financial Corp Reduces Stake in Union Pacific Corporation (NYSE:UNP)

Key Points

• Mackenzie Financial Corp has reduced its holdings in Union Pacific Corporation by 3% during the first quarter, selling 39,248 shares, leaving it with 1,287,672 shares valued at approximately $304.2 million.
• Several institutional investors have increased their positions in Union Pacific, with Geode Capital Management raising its stake by 12.6%, indicating strong institutional interest in the stock.
• Union Pacific recently declared a quarterly dividend of $1.38 per share, representing an annual yield of 2.46%, an increase from its previous dividend of $1.34.

Mackenzie Financial Corp lessened its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,287,672 shares of the railroad operator's stock after selling 39,248 shares during the quarter. Mackenzie Financial Corp owned about 0.22% of Union Pacific worth $304,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its position in 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 acquiring an additional 59 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Union Pacific during the first quarter valued at about $32,000. EnRich Financial Partners LLC purchased a new position in Union Pacific in the fourth quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL raised its position in Union Pacific by 38.8% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock valued at $39,000 after purchasing an additional 45 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in Union Pacific by 50.5% in the first quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 80.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UNP. Bank of America lifted their price target on shares of Union Pacific from $256.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Jefferies Financial Group raised Union Pacific from a "hold" rating to a "buy" rating and increased their price objective for the stock from $250.00 to $285.00 in a report on Friday, July 25th. Sanford C. Bernstein boosted their target price on Union Pacific from $271.00 to $286.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Redburn Atlantic upgraded shares of Union Pacific from a "neutral" rating to a "buy" rating and set a $259.00 target price on the stock in a report on Wednesday, April 16th. Finally, UBS Group lifted their price target on Union Pacific from $238.00 to $240.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $258.21.

Union Pacific Stock Down 1.3%

UNP stock traded down $3.01 during midday trading on Thursday, hitting $222.27. The company's stock had a trading volume of 2,758,625 shares, compared to its average volume of 3,305,491. The firm's 50-day moving average is $227.11 and its 200-day moving average is $230.96. 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 Corporation has a 12 month low of $204.66 and a 12 month high of $258.07. The company has a market cap of $131.82 billion, a PE ratio of 19.30, a P/E/G ratio of 2.22 and a beta of 1.05.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly 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 firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the prior year, the company posted $2.74 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Union Pacific Corporation will post 11.99 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Union Pacific's previous quarterly dividend of $1.34. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.48%. Union Pacific's payout ratio is currently 46.57%.

Union Pacific Company 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.