Tocqueville Asset Management L.P. Buys New Holdings in Union Pacific Corporation $UNP

Key Points

• Tocqueville Asset Management purchased 50,862 Union Pacific shares during the second quarter, valued at approximately $13.8 million. Institutional investors and hedge funds collectively own 80.38% of UNP.
• Union Pacific reported quarterly earnings of $3.41 per share and revenue of $6.86 billion, exceeding analyst expectations; revenue increased 11.5% year over year.
• The company raised its quarterly dividend to $1.42 per share, or $5.68 annually, producing a 1.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $320.89.

Tocqueville Asset Management L.P. bought a new stake in Union Pacific Corporation (NYSE:UNP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,862 shares of the railroad operator's stock, valued at approximately $13,834,000.

A number of other institutional investors have also added to or reduced their stakes in UNP. Cambient Family Office LLC purchased a new stake in shares of Union Pacific in the fourth quarter worth approximately $1,319,000. First National Bank of Omaha grew its holdings in Union Pacific by 35.8% during the fourth quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator's stock worth $12,665,000 after buying an additional 14,399 shares in the last quarter. North Dakota State Investment Board bought a new stake in Union Pacific during the fourth quarter worth $4,746,000. Sage Investment Advisers LLC purchased a new stake in Union Pacific in the 4th quarter valued at $997,000. Finally, Truist Financial Corp raised its position in Union Pacific by 3.1% in the 4th quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator's stock valued at $235,038,000 after buying an additional 30,079 shares during the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Stock Up 0.8%

Shares of NYSE:UNP opened at $304.34 on Friday. Union Pacific Corporation has a 1 year low of $210.84 and a 1 year high of $315.99. The company has a market capitalization of $180.80 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The business has a fifty day moving average price of $285.59 and a two-hundred day moving average price of $267.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.82.

Union Pacific (NYSE:UNP - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.03 EPS. Analysts forecast that Union Pacific Corporation will post 12.93 earnings per share for the current year.

Union Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.9%. This is a boost from Union Pacific's previous quarterly dividend of $1.38. The ex-dividend date is Monday, August 31st. Union Pacific's dividend payout ratio is 44.70%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UNP. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Union Pacific in a report on Monday, July 13th. Evercore reiterated an "outperform" rating and issued a $294.00 target price on shares of Union Pacific in a report on Thursday, June 25th. The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the company a "neutral" rating in a research report on Thursday, July 23rd. 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. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $320.00 price objective (up from $285.00) on shares of Union Pacific in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $320.89.

Insider Buying and Selling

In other Union Pacific news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company's stock.

Union Pacific Company 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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