Sumitomo Mitsui Trust Group Inc. Trims Position in Union Pacific Corporation $UNP

Key Points

• Sumitomo Mitsui Trust Group cut its Union Pacific stake by 4.9% in the first quarter, though it still held 1.31 million shares valued at about $318.9 million.
• Union Pacific reported better-than-expected quarterly results, posting EPS of $2.93 versus $2.86 expected and revenue of $6.22 billion versus $6.12 billion estimated, with revenue up 3.2% year over year.
• The railroad also paid a quarterly dividend of $1.38 per share, and analysts currently view the stock as a Moderate Buy with an average price target of $287.72.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,314,265 shares of the railroad operator's stock after selling 67,234 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Union Pacific worth $318,867,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its position in Union Pacific by 40.4% during the first quarter. Acadian Asset Management LLC now owns 2,312 shares of the railroad operator's stock worth $546,000 after buying an additional 665 shares during the period. Schnieders Capital Management LLC. grew its holdings in Union Pacific by 0.5% in the 2nd quarter. Schnieders Capital Management LLC. now owns 20,606 shares of the railroad operator's stock valued at $4,741,000 after buying an additional 102 shares during the period. Main Street Financial Solutions LLC grew its holdings in Union Pacific by 1.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,733 shares of the railroad operator's stock valued at $859,000 after buying an additional 58 shares during the period. HUB Investment Partners LLC increased its stake in shares of Union Pacific by 10.0% during the 2nd quarter. HUB Investment Partners LLC now owns 6,091 shares of the railroad operator's stock valued at $1,401,000 after acquiring an additional 554 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Union Pacific by 7.4% during the 2nd quarter. Alliancebernstein L.P. now owns 1,528,426 shares of the railroad operator's stock valued at $351,660,000 after acquiring an additional 105,664 shares during the last quarter. 80.38% of the stock is owned by hedge funds and other institutional investors.

Union Pacific Stock Down 0.6%

UNP opened at $281.42 on Thursday. The firm has a 50 day moving average price of $268.43 and a 200 day moving average price of $253.35. The company has a market cap of $167.08 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. Union Pacific Corporation has a 1 year low of $210.84 and a 1 year high of $285.79. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.73 and a current ratio of 0.92.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The railroad operator reported $2.93 EPS for the quarter, beating the consensus estimate of $2.86 by $0.07. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.12 billion. Union Pacific had a net margin of 29.20% and a return on equity of 39.58%. Union Pacific's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 earnings per share. Sell-side analysts expect that Union Pacific Corporation will post 12.56 earnings per share for the current year.

Union Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Union Pacific's dividend payout ratio (DPR) is currently 45.47%.

Insider Activity

In related news, CFO Jennifer L. Hamann sold 2,000 shares of Union Pacific stock in a transaction on Friday, April 24th. The shares were sold at an average price of $274.70, for a total transaction of $549,400.00. Following the transaction, the chief financial officer owned 114,642 shares in the company, valued at approximately $31,492,157.40. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kenyatta G. Rocker sold 27,387 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $271.76, for a total transaction of $7,442,691.12. Following the sale, the executive vice president directly owned 61,102 shares of the company's stock, valued at approximately $16,605,079.52. This trade represents a 30.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,378 shares of company stock valued at $8,781,595. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UNP. Susquehanna reissued a "positive" rating and issued a $305.00 target price on shares of Union Pacific in a research report on Friday, June 5th. Barclays reaffirmed 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 reiterated a "neutral" rating and issued a $274.00 price target (up from $253.00) on shares of Union Pacific in a report on Friday, April 24th. Sanford C. Bernstein upped their price objective on Union Pacific from $289.00 to $293.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Finally, Citigroup reaffirmed a "buy" rating and issued a $307.00 target price (up from $285.00) on shares of Union Pacific in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Union Pacific presently has an average rating of "Moderate Buy" and an average price target of $287.72.

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.

Want to see what other hedge funds are holding UNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Pacific Corporation (NYSE:UNP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.