PNC Financial Services Group Inc. Trims Stock Position in Union Pacific Corporation $UNP

Key Points

• PNC Financial Services Group reduced its Union Pacific stake by 3.0% in the first quarter, selling 36,901 shares and ending with 1,206,875 shares valued at about $292.8 million.
• Other institutional investors were active in UNP as well, with several firms increasing holdings; overall, hedge funds and institutions own 80.38% of Union Pacific.
• Union Pacific beat earnings expectations in its latest quarter, reporting $2.93 EPS on $6.22 billion in revenue, while analysts remain broadly positive with a Moderate Buy consensus and a $299.11 average price target.

PNC Financial Services Group Inc. trimmed its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,206,875 shares of the railroad operator's stock after selling 36,901 shares during the quarter. PNC Financial Services Group Inc. owned about 0.20% of Union Pacific worth $292,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of UNP. Oslo Pensjonsforsikring AS acquired a new position in shares of Union Pacific in the first quarter valued at approximately $389,000. Andra AP fonden lifted its holdings in shares of Union Pacific by 532.1% during the first quarter. Andra AP fonden now owns 76,473 shares of the railroad operator's stock worth $18,554,000 after purchasing an additional 64,375 shares during the period. Glenview Trust Co lifted its holdings in shares of Union Pacific by 2.6% during the first quarter. Glenview Trust Co now owns 136,268 shares of the railroad operator's stock worth $33,061,000 after purchasing an additional 3,418 shares during the period. Convergence Investment Partners LLC grew its position in Union Pacific by 0.8% in the 1st quarter. Convergence Investment Partners LLC now owns 5,289 shares of the railroad operator's stock valued at $1,283,000 after buying an additional 43 shares during the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in Union Pacific by 2.1% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,837 shares of the railroad operator's stock valued at $688,000 after buying an additional 58 shares during the last quarter. 80.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Union Pacific news, CFO Jennifer L. Hamann sold 2,000 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $274.70, for a total value of $549,400.00. Following the completion of the transaction, the chief financial officer directly owned 114,642 shares of the company's stock, valued at approximately $31,492,157.40. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president owned 43,012 shares of the company's stock, valued at approximately $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,378 shares of company stock valued at $8,781,595. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on UNP. Wells Fargo & Company upped their price objective on shares of Union Pacific from $300.00 to $315.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Union Pacific in a report on Monday, July 13th. Barclays reiterated an "overweight" rating and set a $315.00 price target (up from $285.00) on shares of Union Pacific in a research note on Friday, April 24th. UBS Group reissued a "neutral" rating and set a $274.00 price target (up from $253.00) on shares of Union Pacific in a report on Friday, April 24th. Finally, Citigroup started coverage on shares of Union Pacific in a research report on Wednesday, July 15th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $299.11.

Union Pacific Trading Down 1.1%

NYSE:UNP opened at $293.07 on Wednesday. Union Pacific Corporation has a 1 year low of $210.84 and a 1 year high of $303.15. 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 stock has a fifty day moving average price of $273.12 and a two-hundred day moving average price of $257.03. The stock has a market capitalization of $174.00 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.10 and a beta of 0.96.

Union Pacific (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The railroad operator reported $2.93 EPS for the quarter, topping the consensus estimate of $2.86 by $0.07. Union Pacific had a net margin of 29.20% and a return on equity of 39.58%. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the firm earned $2.70 EPS. The business's revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Union Pacific Corporation will post 12.62 earnings per share for the current fiscal year.

Union Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $1.38 dividend. The ex-dividend date was Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. Union Pacific's dividend payout ratio (DPR) is 45.47%.

Union Pacific Profile

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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