Meridian Wealth Management LLC Has $8.37 Million Stock Holdings in Union Pacific Corporation (NYSE:UNP)

Key Points

• Meridian Wealth Management LLC increased its holdings in Union Pacific Corporation by 86.4%, now owning 35,419 shares valued at approximately $8.37 million.
• Wall Street analysts have mixed ratings on Union Pacific, with 14 buy ratings, 11 hold ratings, and one sell rating; the consensus price target is $258.21.
• Union Pacific announced a dividend increase to $1.38 per share, reflecting an annual yield of 2.5% and a payout ratio of 46.57%.

Meridian Wealth Management LLC boosted its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 86.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,419 shares of the railroad operator's stock after buying an additional 16,413 shares during the period. Meridian Wealth Management LLC's holdings in Union Pacific were worth $8,367,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its holdings in shares of Union Pacific by 1.5% in the 1st quarter. Independent Advisor Alliance now owns 35,697 shares of the railroad operator's stock worth $8,433,000 after purchasing an additional 536 shares during the period. Linscomb Wealth Inc. raised its holdings in shares of Union Pacific by 2.2% in the 1st quarter. Linscomb Wealth Inc. now owns 16,667 shares of the railroad operator's stock worth $3,937,000 after purchasing an additional 364 shares during the period. First American Trust FSB raised its holdings in shares of Union Pacific by 4.9% during the 1st quarter. First American Trust FSB now owns 44,106 shares of the railroad operator's stock valued at $10,419,000 after buying an additional 2,051 shares during the period. SouthState Corp raised its holdings in shares of Union Pacific by 2.0% during the 1st quarter. SouthState Corp now owns 51,649 shares of the railroad operator's stock valued at $12,202,000 after buying an additional 989 shares during the period. Finally, CCM Investment Group LLC purchased a new stake in shares of Union Pacific during the 1st quarter valued at about $5,760,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Stock Performance

Shares of UNP traded down $1.56 during mid-day trading on Thursday, hitting $221.62. The stock had a trading volume of 6,245,525 shares, compared to its average volume of 3,348,879. The company has a market cap of $131.43 billion, a PE ratio of 19.25, a PEG ratio of 2.13 and a beta of 1.05. The company's fifty day simple moving average is $227.09 and its two-hundred day simple moving average is $229.99. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 1.86. Union Pacific Corporation has a fifty-two week low of $204.66 and a fifty-two week high of $258.07.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, July 24th. The railroad operator reported $3.03 EPS for the quarter, topping the consensus estimate of $2.84 by $0.19. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.09 billion. Union Pacific had a return on equity of 41.73% and a net margin of 28.43%. The business's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.74 EPS. On average, equities analysts expect that Union Pacific Corporation will post 11.99 earnings per share for the current year.

Union Pacific Increases Dividend

The company also recently disclosed 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 represents a $5.52 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's dividend payout ratio (DPR) is presently 47.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UNP shares. Susquehanna dropped their target price on Union Pacific from $260.00 to $257.00 and set a "positive" rating on the stock in a report on Wednesday, July 30th. Wells Fargo & Company raised their target price on Union Pacific from $250.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Baird R W upgraded Union Pacific to a "hold" rating in a report on Tuesday, July 1st. Raymond James Financial reiterated a "strong-buy" rating on shares of Union Pacific in a report on Tuesday, July 15th. Finally, Argus downgraded Union Pacific from a "buy" rating to a "hold" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.