Union Pacific Corporation $UNP Shares Bought by Eastern Bank

Key Points

• Eastern Bank increased its Union Pacific stake by 59.6% in the second quarter, acquiring 78,131 additional shares for a total holding valued at approximately $56.9 million. Institutional investors collectively own 80.38% of the company.
• Union Pacific reported quarterly EPS of $3.41, exceeding estimates of $3.26, while revenue rose 11.5% year over year to $6.86 billion. Analysts have a consensus “Moderate Buy” rating and an average price target of $320.89.
• The company raised its quarterly dividend to $1.42 per share, equivalent to $5.68 annually and a 1.9% yield. An executive separately sold 2,991 shares worth about $789,500.

Eastern Bank increased its stake in Union Pacific Corporation (NYSE:UNP - Free Report) by 59.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,187 shares of the railroad operator's stock after acquiring an additional 78,131 shares during the period. Eastern Bank's holdings in Union Pacific were worth $56,899,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in shares of Union Pacific during the 4th quarter valued at $25,000. SWAN Capital LLC lifted its holdings in shares of Union Pacific by 2,575.0% in the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator's stock valued at $25,000 after buying an additional 103 shares during the period. Rachor Investment Advisory Services LLC bought a new position in Union Pacific during the fourth quarter valued at about $25,000. High Point Wealth Management LLC bought a new position in Union Pacific during the fourth quarter valued at about $26,000. Finally, Scarborough Advisors LLC bought a new position in Union Pacific during the first quarter valued at about $27,000. Institutional investors and hedge funds own 80.38% of the company's stock.

Insider Buying and Selling at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of the company's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total value of $789,504.36. Following the transaction, the executive vice president owned 43,012 shares in the company, valued at $11,353,447.52. This represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UNP has been the topic of several research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $339.00 price target (up from $289.00) on shares of Union Pacific in a research report on Friday, July 24th. The Goldman Sachs Group set a $317.00 price objective on shares of Union Pacific and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Citigroup boosted their target price on shares of Union Pacific from $326.00 to $349.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Citizens Jmp began coverage on shares of Union Pacific in a report on Wednesday, July 15th. They set an "outperform" rating and a $350.00 target price for the company. Finally, Barclays restated an "overweight" rating and issued a $350.00 price target (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $320.89.

Union Pacific Stock Performance

Shares of Union Pacific stock opened at $291.90 on Tuesday. Union Pacific Corporation has a 12 month low of $210.84 and a 12 month high of $315.99. 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 market cap of $173.41 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.99 and a beta of 0.96. The business has a fifty day simple moving average of $278.13 and a 200-day simple moving average of $261.21.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.15. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.Union Pacific's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.03 earnings per share. On average, sell-side analysts anticipate that Union Pacific Corporation will post 12.9 EPS for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be paid a dividend of $1.42 per share. This is a boost from Union Pacific's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.9%. Union Pacific's dividend payout ratio (DPR) is presently 44.70%.

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.

Want to see what other hedge funds are holding UNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Pacific Corporation (NYSE:UNP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source