PNC Financial Services Group Inc. Lowers Holdings in Union Pacific Corporation $UNP

Key Points

• PNC Financial Services Group cut its stake in Union Pacific by 2.5% in the fourth quarter, selling 31,775 shares and ending with 1,243,776 shares valued at about $287.7 million.
• Insider selling continued at Union Pacific, including EVP Kenyatta G. Rocker selling 27,387 shares in April; company insiders sold 31,386 shares over the last quarter.
• Analysts turned more bullish on the stock, with several firms raising price targets and the consensus rating standing at “Moderate Buy” with an average target of $280.47.

PNC Financial Services Group Inc. decreased its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,243,776 shares of the railroad operator's stock after selling 31,775 shares during the quarter. PNC Financial Services Group Inc. owned about 0.21% of Union Pacific worth $287,710,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Midwest Trust Co increased its holdings in shares of Union Pacific by 2.8% in the 3rd quarter. Midwest Trust Co now owns 281,036 shares of the railroad operator's stock worth $66,428,000 after purchasing an additional 7,759 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Union Pacific by 15.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 135,188 shares of the railroad operator's stock worth $31,955,000 after purchasing an additional 17,696 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Union Pacific by 29.6% in the 3rd quarter. Bessemer Group Inc. now owns 653,589 shares of the railroad operator's stock worth $154,488,000 after purchasing an additional 149,158 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Union Pacific in the 3rd quarter worth $802,000. Finally, Berman McAleer LLC bought a new stake in shares of Union Pacific in the 3rd quarter worth $1,036,000. Hedge funds and other institutional investors own 80.38% of the company's stock.

Insider Buying and Selling at Union Pacific

In other Union Pacific news, EVP Eric J. Gehringer sold 1,999 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $234.93, for a total transaction of $469,625.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenyatta G. Rocker sold 27,387 shares of the business's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $271.76, for a total value of $7,442,691.12. Following the sale, the executive vice president directly owned 61,102 shares of the company's stock, valued at $16,605,079.52. This represents a 30.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,386 shares of company stock valued at $8,461,716. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company reissued an "overweight" rating and issued a $300.00 target price (up from $260.00) on shares of Union Pacific in a report on Friday, April 24th. Benchmark lifted their price objective on Union Pacific from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, April 24th. TD Cowen lifted their price objective on Union Pacific from $256.00 to $282.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Citigroup reaffirmed a "buy" rating and issued a $307.00 price objective (up from $285.00) on shares of Union Pacific in a report on Friday, April 24th. Finally, Raymond James Financial set a $310.00 price objective on Union Pacific in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $280.47.

Union Pacific Stock Performance

NYSE:UNP opened at $271.30 on Wednesday. The stock has a 50-day simple moving average of $252.93 and a two-hundred day simple moving average of $243.02. Union Pacific Corporation has a 52-week low of $210.84 and a 52-week high of $276.40. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a market capitalization of $161.07 billion, a PE ratio of 22.35, a P/E/G ratio of 2.92 and a beta of 0.99.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The railroad operator reported $2.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.22 billion during 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. Union Pacific's revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that Union Pacific Corporation will post 12.53 EPS for the current year.

Union Pacific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, May 29th. Union Pacific's payout ratio is currently 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.

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