Jennison Associates LLC Cuts Stake in Union Pacific Corporation (NYSE:UNP)

Jennison Associates LLC lowered its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 764,665 shares of the railroad operator's stock after selling 35,105 shares during the quarter. Jennison Associates LLC owned about 0.13% of Union Pacific worth $180,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC raised its stake in Union Pacific by 46.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,211 shares of the railroad operator's stock valued at $504,000 after purchasing an additional 698 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Union Pacific by 1.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 120,185 shares of the railroad operator's stock valued at $28,472,000 after acquiring an additional 1,991 shares during the last quarter. Brooklyn FI LLC bought a new position in Union Pacific in the fourth quarter valued at about $409,000. VSM Wealth Advisory LLC bought a new position in Union Pacific in the fourth quarter valued at about $75,000. Finally, Royal London Asset Management Ltd. grew its position in Union Pacific by 1.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 427,312 shares of the railroad operator's stock valued at $97,444,000 after acquiring an additional 7,061 shares during the last quarter. Institutional investors and hedge funds own 80.38% of the company's stock.

Union Pacific Price Performance

Shares of NYSE UNP traded down $2.59 during trading hours on Friday, reaching $224.90. 5,793,560 shares of the stock traded hands, compared to its average volume of 2,753,150. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.91. The company's 50-day simple moving average is $227.52 and its two-hundred day simple moving average is $231.17. The company has a market capitalization of $134.37 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. Union Pacific Corporation has a 52-week low of $204.66 and a 52-week high of $258.07.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The railroad operator reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.73 by ($0.03). Union Pacific had a return on equity of 40.80% and a net margin of 27.76%. The company had revenue of $6.03 billion during the quarter, compared to analysts' expectations of $6.11 billion. During the same period last year, the firm earned $2.69 earnings per share. Union Pacific's revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that Union Pacific Corporation will post 11.99 EPS for the current year.

Union Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.38 per share. The ex-dividend date is Friday, August 29th. This is a boost from Union Pacific's previous quarterly dividend of $1.34. This represents a $5.52 annualized dividend and a dividend yield of 2.45%. Union Pacific's payout ratio is 48.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on Union Pacific from $255.00 to $230.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Barclays upped their target price on Union Pacific from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Sanford C. Bernstein restated an "outperform" rating and set a $271.00 price target (up from $267.00) on shares of Union Pacific in a report on Tuesday, July 8th. Robert W. Baird assumed coverage on Union Pacific in a report on Tuesday, July 1st. They set a "neutral" rating and a $231.00 price target on the stock. Finally, Susquehanna upgraded Union Pacific from a "neutral" rating to a "positive" rating and increased their price target for the stock from $245.00 to $260.00 in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Union Pacific has an average rating of "Moderate Buy" and an average price target of $257.13.

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.