Union Pacific Corporation $UNP Shares Bought by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC increased its stake in Union Pacific Corporation by 30.8%, owning approximately 0.08% of the company’s shares worth $117,749,000 after additional purchases.
• Union Pacific reported a quarterly earnings per share (EPS) of $3.03, exceeding analysts' expectations, alongside a revenue increase of 2.4% year-over-year.
• The company recently raised its quarterly dividend from $1.34 to $1.38 per share, with a current yield of 2.5%.

First Manhattan CO. LLC. lifted its position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 30.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 498,430 shares of the railroad operator's stock after buying an additional 117,356 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.08% of Union Pacific worth $117,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of UNP. Highline Wealth Partners LLC lifted 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. Financial Gravity Asset Management Inc. purchased a new stake in Union Pacific in the 1st quarter worth $32,000. WPG Advisers LLC purchased a new stake in Union Pacific in the 1st quarter worth $33,000. Cornerstone Planning Group LLC lifted its stake in Union Pacific by 50.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in Union Pacific in the 1st quarter worth $43,000. 80.38% of the stock is currently owned by institutional investors.

Union Pacific Stock Down 1.2%

Shares of NYSE UNP traded down $2.72 during midday trading on Friday, reaching $220.34. 4,001,761 shares of the company's stock traded hands, compared to its average volume of 4,119,977. 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 stock's 50 day simple moving average is $226.40 and its 200-day simple moving average is $227.09. Union Pacific Corporation has a one year low of $204.66 and a one year high of $256.84. The company has a market cap of $130.67 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.17 and a beta of 1.03.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.19. Union Pacific had a net margin of 28.43% and a return on equity of 41.73%. The business had revenue of $6.15 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same quarter last year, the company posted $2.74 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, 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. Stockholders of record on Friday, August 29th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.5%. This is a positive change from Union Pacific's previous quarterly dividend of $1.34. The ex-dividend date is Friday, August 29th. Union Pacific's dividend payout ratio (DPR) is 47.96%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Susquehanna decreased their target price on shares of Union Pacific from $260.00 to $257.00 and set a "positive" rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group upgraded shares of Union Pacific from a "hold" rating to a "buy" rating and upped their price target for the company from $250.00 to $285.00 in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Union Pacific from $257.00 to $276.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley cut their price target on shares of Union Pacific from $220.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Finally, Wells Fargo & Company upped their price target on shares of Union Pacific from $250.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus 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.