Union Pacific Corporation $UNP Shares Acquired by State Street Corp

Key Points

• State Street increased its Union Pacific stake by 4.9% in the second quarter, adding 1.3 million shares to reach 27.9 million shares valued at approximately $7.6 billion. Institutional investors and hedge funds collectively own 80.38% of UNP.
• Union Pacific reported quarterly EPS of $3.41, beating estimates of $3.26, while revenue rose 11.5% year over year to $6.86 billion. The company also raised its quarterly dividend to $1.42, equivalent to a 2.1% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $327.72, above its cited trading price of $272.10.

State Street Corp increased its holdings in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,890,598 shares of the railroad operator's stock after purchasing an additional 1,302,732 shares during the quarter. State Street Corp owned approximately 4.69% of Union Pacific worth $7,586,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UNP. Capital World Investors boosted its holdings in shares of Union Pacific by 92.1% in the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator's stock valued at $4,658,142,000 after buying an additional 9,655,306 shares in the last quarter. Bank of America Corp DE grew its position in shares of Union Pacific by 0.4% in the 2nd quarter. Bank of America Corp DE now owns 14,527,563 shares of the railroad operator's stock valued at $3,951,497,000 after buying an additional 64,492 shares during the last quarter. Geode Capital Management LLC raised its stake in Union Pacific by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 15,360,668 shares of the railroad operator's stock worth $3,552,550,000 after acquiring an additional 296,814 shares in the last quarter. Capital Research Global Investors raised its stake in Union Pacific by 26.0% during the 4th quarter. Capital Research Global Investors now owns 10,980,904 shares of the railroad operator's stock worth $2,540,105,000 after acquiring an additional 2,267,708 shares in the last quarter. Finally, Norges Bank purchased a new stake in Union Pacific in the fourth quarter valued at $1,779,907,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Stock Performance

Shares of NYSE UNP traded up $2.46 during mid-day trading on Tuesday, hitting $272.10. 1,302,171 shares of the company were exchanged, compared to its average volume of 3,035,196. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $294.33 and a 200-day simple moving average of $272.41. Union Pacific Corporation has a 1-year low of $215.53 and a 1-year high of $315.99. The firm has a market cap of $161.65 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 28.85% and a return on equity of 38.46%. Union Pacific's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.03 EPS. On average, sell-side analysts forecast that Union Pacific Corporation will post 13.01 EPS for the current fiscal year.

Union Pacific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a $1.42 dividend. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Union Pacific's previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 2.1%. Union Pacific's payout ratio is presently 45.99%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UNP. Citizens Jmp started coverage on shares of Union Pacific in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $350.00 price objective for the company. Evercore reissued an "outperform" rating and issued a $294.00 target price on shares of Union Pacific in a report on Thursday, June 25th. TD Cowen reissued a "buy" rating and issued a $325.00 target price (up from $282.00) on shares of Union Pacific in a research report on Friday, July 24th. BMO Capital Markets restated a "market perform" rating and set a $320.00 price target (up from $285.00) on shares of Union Pacific in a research note on Friday, July 24th. Finally, Barclays reaffirmed an "overweight" rating and set a $350.00 price target (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $327.72.

Union Pacific Company Profile

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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