Renaissance Investment Group LLC Has $8.75 Million Position in Union Pacific Corporation (NYSE:UNP)

Key Points

• Renaissance Investment Group LLC reduced its holdings in Union Pacific Corporation by 24.1%, resulting in a total ownership of 37,019 shares, valued at $8,745,000.
• Union Pacific has received a range of analyst ratings, with upgrades from Susquehanna and Argus, bringing the average rating to a "Moderate Buy" with a consensus price target of $259.46.
• The company reported quarterly earnings of $3.03 per share, exceeding estimates, and announced an increase in its quarterly dividend to $1.38 per share.

Renaissance Investment Group LLC trimmed its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,019 shares of the railroad operator's stock after selling 11,746 shares during the quarter. Union Pacific makes up approximately 2.1% of Renaissance Investment Group LLC's portfolio, making the stock its 25th biggest holding. Renaissance Investment Group LLC's holdings in Union Pacific were worth $8,745,000 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 UNP. Highline Wealth Partners LLC boosted its stake in Union Pacific by 103.5% in the 1st quarter. Highline Wealth Partners LLC now owns 116 shares of the railroad operator's stock worth $27,000 after purchasing an additional 59 shares in the last quarter. EnRich Financial Partners LLC bought a new position in Union Pacific during the 4th quarter valued at about $31,000. Financial Gravity Asset Management Inc. bought a new position in Union Pacific during the 1st quarter valued at about $32,000. Cornerstone Planning Group LLC lifted its stake in Union Pacific by 50.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock valued at $37,000 after acquiring an additional 56 shares during the period. Finally, Strategic Investment Solutions Inc. IL lifted its stake in Union Pacific by 38.8% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock valued at $39,000 after acquiring an additional 45 shares during the period. 80.38% of the stock is owned by hedge funds and other institutional investors.

Union Pacific Price Performance

NYSE UNP traded down $2.66 on Friday, reaching $219.31. 2,834,404 shares of the stock traded hands, compared to its average volume of 3,321,007. The company has a market cap of $130.06 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.30 and a beta of 1.05. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 1.86. The firm's fifty day simple moving average is $227.09 and its 200 day simple moving average is $230.93. Union Pacific Corporation has a 12 month low of $204.66 and a 12 month high of $258.07.

Union Pacific (NYSE:UNP - Get Free Report) last released 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 return on equity of 41.73% and a net margin of 28.43%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 earnings per share. As a group, research analysts predict that Union Pacific Corporation will post 11.99 EPS for the current fiscal year.

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.5%. This is an increase from Union Pacific's previous quarterly dividend of $1.34. The ex-dividend date is Friday, August 29th. Union Pacific's dividend payout ratio is 46.57%.

Analyst Ratings Changes

Several research firms have recently commented on UNP. Barclays lowered shares of Union Pacific from an "overweight" rating to an "equal weight" rating in a research report on Wednesday. Sanford C. Bernstein increased their target price on shares of Union Pacific from $271.00 to $286.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Robert W. Baird started coverage on shares of Union Pacific in a report on Tuesday, July 1st. They issued a "neutral" rating and a $231.00 target price for the company. UBS Group increased their target price on shares of Union Pacific from $238.00 to $240.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Susquehanna dropped their price target on Union Pacific from $260.00 to $257.00 and set a "positive" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.21.

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.