Union Pacific Corporation $UNP Shares Sold by Summit Securities Group LLC

Key Points

• Summit Securities Group cut its Union Pacific stake by 97.9% in the second quarter, selling 6,459 shares and retaining just 138 shares valued at approximately $38,000.
• 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 stock opened at $293.57, down 1.4%.
• The company increased its quarterly dividend to $1.42 per share, or $5.68 annually, producing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89.

Summit Securities Group LLC cut its holdings in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 97.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138 shares of the railroad operator's stock after selling 6,459 shares during the quarter. Summit Securities Group LLC's holdings in Union Pacific were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new stake in shares of Union Pacific in the fourth quarter worth approximately $25,000. Tucker Asset Management LLC purchased a new stake in Union Pacific in the fourth quarter valued at approximately $25,000. SWAN Capital LLC increased its position in Union Pacific by 2,575.0% during the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. High Point Wealth Management LLC acquired a new position in Union Pacific during the fourth quarter worth approximately $26,000. Finally, Cornerstone Financial Management LLC purchased a new position in Union Pacific during the fourth quarter worth approximately $27,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Stock Down 1.4%

NYSE UNP opened at $293.57 on Friday. The stock has a market cap of $174.40 billion, a PE ratio of 23.77, a P/E/G ratio of 3.00 and a beta of 0.96. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The business has a 50 day moving average price of $283.00 and a two-hundred day moving average price of $265.13. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Union Pacific (NYSE:UNP - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The business's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.03 earnings per share. As a group, sell-side analysts predict that Union Pacific Corporation will post 12.93 EPS for the current fiscal year.

Union Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.9%. 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. Union Pacific's dividend payout ratio (DPR) is 44.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UNP shares. Robert W. Baird lifted their price target on shares of Union Pacific from $311.00 to $344.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $339.00 target price (up from $289.00) on shares of Union Pacific in a research report on Friday, July 24th. Citigroup lifted their target price on Union Pacific from $326.00 to $349.00 and gave the company a "buy" rating in a report on Friday, July 24th. Raymond James Financial reissued a "strong-buy" rating on shares of Union Pacific in a research report on Monday, July 13th. Finally, UBS Group restated a "neutral" rating and issued a $310.00 price objective (up from $286.00) on shares of Union Pacific in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $320.89.

Insiders Place Their Bets

In related news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president owned 43,012 shares of the company's stock, valued at $11,353,447.52. The trade was a 6.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company's stock.

Union Pacific 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.

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