The Manufacturers Life Insurance Company Decreases Position in Union Pacific Corporation $UNP

Key Points

• The Manufacturers Life Insurance Company reduced its Union Pacific stake by 11.3% in the second quarter, selling 57,873 shares and retaining 452,837 shares valued at approximately $123.2 million. Institutional investors collectively own 80.38% of the railroad operator.
• Union Pacific exceeded quarterly expectations, reporting $3.41 in earnings per share and $6.86 billion in revenue, with revenue up 11.5% year over year.
• The company raised its quarterly dividend to $1.42 per share, equivalent to a $5.68 annualized payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89.

The Manufacturers Life Insurance Company trimmed its holdings in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 452,837 shares of the railroad operator's stock after selling 57,873 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Union Pacific worth $123,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in Union Pacific by 29,250.5% during the 2nd quarter. California State Teachers Retirement System now owns 247,700,336 shares of the railroad operator's stock valued at $67,374,491,000 after acquiring an additional 246,856,396 shares during the period. Capital World Investors increased its stake in Union Pacific by 92.1% in the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator's stock worth $4,658,142,000 after purchasing an additional 9,655,306 shares during the period. Norges Bank bought a new stake in Union Pacific in the fourth quarter valued at approximately $1,779,907,000. Legal & General Group Plc bought a new stake in Union Pacific in the second quarter valued at approximately $1,193,135,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Union Pacific during the second quarter valued at approximately $1,094,677,000. 80.38% of the stock is owned by institutional investors.

Union Pacific Price Performance

UNP opened at $284.46 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. The stock has a market capitalization of $168.99 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.84 and a beta of 0.96. The stock's 50 day moving average price is $294.87 and its 200-day moving average price is $271.74. Union Pacific Corporation has a 52-week low of $213.89 and a 52-week high of $315.99.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The firm's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.03 earnings per share. On average, equities research analysts predict that Union Pacific Corporation will post 13.02 EPS for the current year.

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be given a $1.42 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a dividend yield of 2.0%. This is a positive change from Union Pacific's previous quarterly dividend of $1.38. Union Pacific's dividend payout ratio is 45.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on UNP shares. Benchmark raised their target price on shares of Union Pacific from $325.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, July 24th. TD Cowen reiterated a "buy" rating and set a $325.00 price target (up from $282.00) on shares of Union Pacific in a report on Friday, July 24th. Weiss Ratings raised shares of Union Pacific from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Union Pacific in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $320.89.

About Union Pacific

Union Pacific Corporation is a transportation company that operates Union Pacific Railroad, one of the largest freight railroad networks in the United States. The company provides rail transportation and logistics services for a broad range of commodities, including agricultural products, automotive goods, chemicals, coal, industrial products, and intermodal shipments.

Union Pacific's railroad network serves the western two-thirds of the United States, connecting major markets and ports across approximately 23 states.

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