Martingale Asset Management L P Lowers Stake in Union Pacific Corporation $UNP

Key Points

• Martingale Asset Management L P reduced its stake in Union Pacific Corporation by 3.7%, holding 31,282 shares worth $7.39 million after selling 1,209 shares.
• Union Pacific recently reported earnings of $3.03 EPS, surpassing estimates, with quarterly revenues increasing 2.4% year-over-year.
• The company has announced a dividend increase to $1.38 per share, representing a 2.5% yield with a payout ratio of 46.57%.

Martingale Asset Management L P trimmed its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,282 shares of the railroad operator's stock after selling 1,209 shares during the quarter. Martingale Asset Management L P's holdings in Union Pacific were worth $7,390,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Highline Wealth Partners LLC raised its position in shares of Union Pacific by 103.5% in 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 period. Financial Gravity Asset Management Inc. acquired a new position in shares of Union Pacific during the 1st quarter worth about $32,000. Cornerstone Planning Group LLC raised its position in shares of Union Pacific by 50.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock worth $37,000 after purchasing an additional 56 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Union Pacific during the 1st quarter worth about $43,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Union Pacific during the 1st quarter worth about $55,000. Institutional investors and hedge funds own 80.38% of the company's stock.

Union Pacific Trading Down 2.0%

Shares of Union Pacific stock traded down $4.4920 during mid-day trading on Monday, hitting $223.3580. The stock had a trading volume of 5,992,964 shares, compared to its average volume of 3,396,412. The firm has a 50-day moving average of $226.99 and a two-hundred day moving average of $228.58. Union Pacific Corporation has a 12-month low of $204.66 and a 12-month high of $258.07. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 1.86. The firm has a market cap of $132.46 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share for the quarter, beating 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 business had revenue of $6.15 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same quarter in the prior year, the company posted $2.74 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Union Pacific Corporation will post 11.99 earnings per share for the current year.

Union Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's dividend payout ratio is 46.57%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Union Pacific from $220.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Royal Bank Of Canada upped their price objective on shares of Union Pacific from $257.00 to $276.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Baird R W raised shares of Union Pacific to a "hold" rating in a research note on Tuesday, July 1st. Bank of America upped their price objective on shares of Union Pacific from $256.00 to $262.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets upped 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Union Pacific currently has an average rating of "Moderate Buy" and a consensus price target of $258.21.

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.