PNC Financial Services Group Inc. Sells 38,814 Shares of Union Pacific Corporation (NYSE:UNP)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Union Pacific Corporation by 2.8%, now owning approximately 1,350,578 shares worth $319 million.
• Union Pacific recently increased its quarterly dividend from $1.34 to $1.38, equating to an annualized rate of $5.52 and a yield of 2.5%.
• The company reported earnings of $3.03 per share, surpassing analyst expectations of $2.84, indicating a year-over-year revenue increase of 2.4% to $6.15 billion.

PNC Financial Services Group Inc. lowered its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,350,578 shares of the railroad operator's stock after selling 38,814 shares during the quarter. PNC Financial Services Group Inc. owned about 0.23% of Union Pacific worth $319,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its stake in Union Pacific by 103.5% during the first quarter. Highline Wealth Partners LLC now owns 116 shares of the railroad operator's stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Union Pacific in the first quarter worth $32,000. EnRich Financial Partners LLC bought a new position in Union Pacific in the 4th quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL grew its stake in shares of Union Pacific by 38.8% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock worth $39,000 after purchasing an additional 45 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Union Pacific by 50.5% during the first quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 80.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Union Pacific from $250.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. BMO Capital Markets lifted their price target on Union Pacific from $270.00 to $277.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Robert W. Baird assumed coverage on Union Pacific in a research note on Tuesday, July 1st. They set a "neutral" rating and a $231.00 target price for the company. Baird R W upgraded shares of Union Pacific to a "hold" rating in a report on Tuesday, July 1st. Finally, Evercore ISI lowered their price target on Union Pacific from $244.00 to $238.00 and set an "in-line" rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Union Pacific currently has an average rating of "Moderate Buy" and an average price target of $258.21.

Union Pacific Price Performance

Shares of UNP traded up $2.63 during midday trading on Monday, hitting $222.03. 4,181,048 shares of the company traded hands, compared to its average volume of 5,204,046. The stock has a 50-day moving average of $227.04 and a 200-day moving average of $230.83. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.65 and a quick ratio of 0.53. The firm has a market cap of $131.67 billion, a P/E ratio of 19.29, a PEG ratio of 2.14 and a beta of 1.05. Union Pacific Corporation has a one year low of $204.66 and a one year high of $258.07.

Union Pacific (NYSE:UNP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the business posted $2.74 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Union Pacific Corporation will post 11.99 EPS for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.38 per share. This is a boost from Union Pacific's previous quarterly dividend of $1.34. The ex-dividend date is Friday, August 29th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.5%. Union Pacific's dividend payout ratio (DPR) is presently 46.57%.

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.