Union Pacific Corporation $UNP Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management cut its Union Pacific stake by 86.2% in the second quarter, selling 7,767 shares and retaining 1,244 shares valued at approximately $338,000. Institutional investors and hedge funds collectively own 80.38% of the company.
• Analysts maintain a broadly positive outlook, with Union Pacific receiving a consensus “Moderate Buy” rating and an average price target of $320.89. Several firms recently raised their targets, including Barclays to $350 and Wells Fargo to $335.
• Union Pacific reported quarterly EPS of $3.41 and revenue of $6.86 billion, exceeding analyst estimates, while revenue increased 11.5% year over year. The company also raised its quarterly dividend to $1.42 per share, representing a 1.9% annualized yield.

Wedge Capital Management L L P NC lessened its holdings in Union Pacific Corporation (NYSE:UNP - Free Report) by 86.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244 shares of the railroad operator's stock after selling 7,767 shares during the period. Wedge Capital Management L L P NC's holdings in Union Pacific were worth $338,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Key Financial Inc lifted its stake in Union Pacific by 2.1% in the 1st quarter. Key Financial Inc now owns 1,821 shares of the railroad operator's stock valued at $442,000 after buying an additional 38 shares in the last quarter. Members Trust Co increased its position in Union Pacific by 2.5% during the first quarter. Members Trust Co now owns 1,573 shares of the railroad operator's stock worth $382,000 after buying an additional 38 shares in the last quarter. EJMK Ventures LLC increased its position in Union Pacific by 4.0% during the first quarter. EJMK Ventures LLC now owns 1,016 shares of the railroad operator's stock worth $247,000 after buying an additional 39 shares in the last quarter. Wealthquest Corp raised its holdings in shares of Union Pacific by 3.7% in the first quarter. Wealthquest Corp now owns 1,108 shares of the railroad operator's stock worth $269,000 after acquiring an additional 40 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Union Pacific by 5.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 791 shares of the railroad operator's stock worth $215,000 after acquiring an additional 40 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UNP has been the topic of a number of analyst reports. Evercore reaffirmed an "outperform" rating and set a $294.00 price objective on shares of Union Pacific in a research note on Thursday, June 25th. Barclays reissued an "overweight" rating and issued a $350.00 target price (up from $315.00) on shares of Union Pacific in a research note on Friday, July 24th. Wells Fargo & Company restated an "overweight" rating and issued a $335.00 target price (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. TD Cowen reaffirmed a "buy" rating and set a $325.00 price target (up from $282.00) on shares of Union Pacific in a research note on Friday, July 24th. Finally, The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Union Pacific presently has a consensus rating of "Moderate Buy" and a consensus target price of $320.89.

Union Pacific Stock Performance

Union Pacific stock opened at $293.57 on Friday. The stock has a fifty day moving average price of $283.00 and a 200 day moving average price of $265.13. Union Pacific Corporation has a 52 week low of $210.84 and a 52 week high of $315.99. The firm has a market capitalization of $174.40 billion, a P/E ratio of 23.77, a PEG ratio of 3.00 and a beta of 0.96. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40.

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

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Union Pacific's previous quarterly dividend of $1.38. The ex-dividend date is Monday, August 31st. Union Pacific's payout ratio is 44.70%.

Insider Transactions at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president directly owned 43,012 shares of the company's stock, valued at approximately $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

About Union Pacific

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