Renaissance Investment Group LLC Sells 2,137 Shares of Union Pacific Corporation $UNP

Key Points

• Renaissance Investment Group LLC reduced its holdings in Union Pacific Corporation by 5.8% during the second quarter, now owning 34,882 shares valued at approximately $8 million.
• Union Pacific's recent earnings report showed a net income increase with $3.03 earnings per share, surpassing estimates, and a revenue of $6.15 billion for the quarter.
• The company has declared a quarterly dividend of $1.38, marking an increase from the prior $1.34, with a current dividend yield of 2.6%.

Renaissance Investment Group LLC reduced its position in Union Pacific Corporation (NYSE:UNP - Free Report) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,882 shares of the railroad operator's stock after selling 2,137 shares during the period. Union Pacific comprises 1.7% of Renaissance Investment Group LLC's investment portfolio, making the stock its 29th biggest position. Renaissance Investment Group LLC's holdings in Union Pacific were worth $8,026,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LGT Group Foundation grew its position in shares of Union Pacific by 9.7% in the first quarter. LGT Group Foundation now owns 5,398 shares of the railroad operator's stock valued at $1,275,000 after purchasing an additional 477 shares during the period. Nuveen LLC acquired a new position in shares of Union Pacific during the first quarter worth about $988,822,000. SlateStone Wealth LLC lifted its stake in shares of Union Pacific by 6.2% during the first quarter. SlateStone Wealth LLC now owns 13,264 shares of the railroad operator's stock worth $3,133,000 after purchasing an additional 772 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its stake in shares of Union Pacific by 10.9% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 3,666 shares of the railroad operator's stock worth $866,000 after purchasing an additional 359 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Union Pacific by 16.8% in the first quarter. GAMMA Investing LLC now owns 10,545 shares of the railroad operator's stock worth $2,491,000 after acquiring an additional 1,520 shares in the last quarter. Hedge funds and other institutional investors own 80.38% of the company's stock.

Union Pacific Stock Up 0.2%

Shares of NYSE:UNP traded up $0.50 during midday trading on Friday, hitting $220.86. 8,631,215 shares of the stock were exchanged, compared to its average volume of 3,530,863. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.53 and a current ratio of 0.65. Union Pacific Corporation has a 52-week low of $204.66 and a 52-week high of $256.84. The business's fifty day simple moving average is $222.94 and its two-hundred day simple moving average is $225.28. The company has a market capitalization of $130.98 billion, a PE ratio of 19.19, a P/E/G ratio of 2.11 and a beta of 1.03.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.19. Union Pacific had a return on equity of 41.73% and a net margin of 28.43%.The business had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the company earned $2.74 earnings per share. Union Pacific's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Union Pacific Corporation will post 11.99 earnings per share 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 47.96%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UNP. Morgan Stanley cut their price objective on Union Pacific from $220.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Citigroup raised Union Pacific from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $250.00 to $251.00 in a report on Monday. Robert W. Baird began coverage on Union Pacific in a research note on Tuesday, July 1st. They set a "neutral" rating and a $231.00 price target for the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Union Pacific in a research report on Tuesday, July 15th. Finally, Loop Capital upgraded Union Pacific from a "sell" rating to a "hold" rating and increased their price objective for the company from $214.00 to $227.00 in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $259.38.

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.