State of New Jersey Common Pension Fund D Sells 19,369 Shares of Union Pacific Corporation $UNP

Key Points

• The State of New Jersey Common Pension Fund D decreased its holdings in Union Pacific Corporation by 8.6%, owning 205,242 shares worth $48.5 million after selling 19,369 shares in the first quarter.
• Union Pacific announced a quarterly dividend of $1.38, to be paid on September 30, reflecting a positive increase from the previous dividend of $1.34.
• Research analysts have varied ratings on Union Pacific, with a consensus price target of $258.21 and an average rating of "Moderate Buy" from 14 analysts.

State of New Jersey Common Pension Fund D lowered its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,242 shares of the railroad operator's stock after selling 19,369 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Union Pacific were worth $48,486,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its stake in shares of Union Pacific by 103.5% in the 1st 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 in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Union Pacific in the 1st quarter valued at about $32,000. Cornerstone Planning Group LLC raised its stake in shares of Union Pacific by 50.5% in the 1st 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. Strategic Investment Solutions Inc. IL raised its stake in shares of Union Pacific by 38.8% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock valued at $39,000 after purchasing an additional 45 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Union Pacific in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 80.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Union Pacific from $271.00 to $286.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. BMO Capital Markets upped their target price on shares of Union Pacific from $270.00 to $277.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Jefferies Financial Group upgraded shares of Union Pacific from a "hold" rating to a "buy" rating and upped their target price for the stock from $250.00 to $285.00 in a research report on Friday, July 25th. Citigroup cut shares of Union Pacific from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $270.00 to $250.00 in a report on Wednesday, July 30th. Finally, Evercore ISI decreased their price objective on shares of Union Pacific from $244.00 to $238.00 and set an "in-line" rating for the company in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Union Pacific has an average rating of "Moderate Buy" and an average target price of $258.21.

Union Pacific Stock Down 0.4%

Shares of NYSE:UNP traded down $0.88 during trading on Monday, reaching $219.90. 3,188,433 shares of the company traded hands, compared to its average volume of 5,441,379. The firm has a fifty day simple moving average of $226.97 and a 200 day simple moving average of $229.09. The firm has a market cap of $130.41 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Union Pacific Corporation has a 1-year low of $204.66 and a 1-year high of $258.07. 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 (NYSE:UNP - Get Free Report) last issued its earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 28.43% and a return on equity of 41.73%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.74 EPS. Analysts anticipate that Union Pacific Corporation will post 11.99 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently declared 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. 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%. This is an increase from Union Pacific's previous quarterly dividend of $1.34. Union Pacific's payout ratio is 46.57%.

Union Pacific Company 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.