Picton Mahoney Asset Management Lowers Stock Position in Union Pacific Corporation $UNP

Key Points

• Picton Mahoney Asset Management cut its stake in Union Pacific by 41.1% in Q3, selling 7,128 shares and remaining with 10,232 shares valued at $2.418 million.
• Large institutional buying offset some selling—Norges Bank opened a roughly $1.856 billion stake and firms like Laurel Wealth Advisors, Amundi and Arrowstreet materially increased holdings, leaving about 80.38% of UNP owned by institutions.
• Company and market context: Union Pacific posted an EPS miss ($2.86 vs. $2.92) and slightly lower revenue, trades near $260 with an average analyst target of $260.14, and pays a $1.38 quarterly dividend (2.1% yield).

Picton Mahoney Asset Management cut its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 41.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,232 shares of the railroad operator's stock after selling 7,128 shares during the quarter. Picton Mahoney Asset Management's holdings in Union Pacific were worth $2,418,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Union Pacific during the second quarter worth approximately $1,856,340,000. Laurel Wealth Advisors LLC lifted its position in Union Pacific by 22,618.2% in the second quarter. Laurel Wealth Advisors LLC now owns 2,624,636 shares of the railroad operator's stock valued at $603,876,000 after purchasing an additional 2,613,083 shares during the period. Amundi lifted its holdings in shares of Union Pacific by 35.6% in the 2nd quarter. Amundi now owns 4,782,577 shares of the railroad operator's stock valued at $1,134,236,000 after buying an additional 1,255,231 shares during the period. Rothschild & Co Wealth Management UK Ltd grew its holdings in Union Pacific by 3,536.2% during the second quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,011,677 shares of the railroad operator's stock worth $232,767,000 after acquiring an additional 983,855 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Union Pacific by 32.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,152,042 shares of the railroad operator's stock worth $725,222,000 after buying an additional 778,411 shares in the last quarter. 80.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen lowered their price target on shares of Union Pacific from $257.00 to $255.00 and set a "buy" rating on the stock in a research report on Wednesday, January 28th. Citigroup reaffirmed a "buy" rating and set a $270.00 price target (up from $265.00) on shares of Union Pacific in a research note on Wednesday, January 28th. Susquehanna reissued a "buy" rating on shares of Union Pacific in a research report on Monday, January 19th. The Goldman Sachs Group reissued a "neutral" rating and set a $267.00 price objective on shares of Union Pacific in a research note on Tuesday, January 27th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Union Pacific in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $260.14.

Union Pacific Stock Down 2.5%

Shares of Union Pacific stock opened at $260.04 on Friday. Union Pacific Corporation has a twelve month low of $204.66 and a twelve month high of $268.14. The stock has a market cap of $154.31 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.91 and a beta of 0.95. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average price of $244.48 and a 200 day moving average price of $232.70.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The railroad operator reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.92 by ($0.06). The company had revenue of $6.09 billion during the quarter, compared to analysts' expectations of $6.15 billion. Union Pacific had a return on equity of 40.89% and a net margin of 29.12%.The firm's revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.91 EPS. Equities research analysts forecast that Union Pacific Corporation will post 11.99 earnings per share for the current fiscal year.

Union Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, February 27th. Union Pacific's dividend payout ratio is 46.12%.

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.

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