Westport Asset Management Inc. Makes New $2.39 Million Investment in Union Pacific Corporation $UNP

Key Points

• Westport Asset Management acquired 8,800 Union Pacific shares worth approximately $2.39 million during the second quarter. Institutional investors and hedge funds collectively own 80.38% of the railroad operator.
• Union Pacific reported quarterly earnings of $3.41 per share, exceeding estimates of $3.26, while revenue rose 11.5% year over year to $6.86 billion. Shares recently traded at $304.34, near their 52-week high.
• The company increased its quarterly dividend from $1.38 to $1.42 per share, representing an annualized dividend of $5.68 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.89.

Westport Asset Management Inc. acquired a new position in shares of Union Pacific Corporation (NYSE:UNP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,800 shares of the railroad operator's stock, valued at approximately $2,394,000.

Other hedge funds also recently modified their holdings of the company. Cambient Family Office LLC acquired a new position in Union Pacific in the fourth quarter worth about $1,319,000. First National Bank of Omaha raised its position in Union Pacific by 35.8% in the 4th quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator's stock worth $12,665,000 after purchasing an additional 14,399 shares during the last quarter. North Dakota State Investment Board acquired a new stake in shares of Union Pacific in the 4th quarter valued at approximately $4,746,000. Sage Investment Advisers LLC bought a new position in shares of Union Pacific during the 4th quarter worth approximately $997,000. Finally, Truist Financial Corp increased its holdings in shares of Union Pacific by 3.1% in the fourth quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator's stock valued at $235,038,000 after purchasing an additional 30,079 shares during the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Union Pacific Trading Up 0.8%

Shares of NYSE:UNP opened at $304.34 on Friday. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week 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 company has a market cap of $180.80 billion, a PE ratio of 24.64, a P/E/G ratio of 3.08 and a beta of 0.96. The company's 50-day moving average price is $285.59 and its 200 day moving average price is $267.31.

Union Pacific (NYSE:UNP - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, beating 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 company had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.72 billion. During the same quarter in the previous year, the company posted $3.03 earnings per share. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a dividend of $1.42 per share. This is an increase from Union Pacific's previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 31st. Union Pacific's dividend payout ratio (DPR) is presently 44.70%.

Wall Street Analyst Weigh In

UNP has been the subject of several research reports. TD Cowen reissued a "buy" rating and issued a $325.00 price target (up from $282.00) on shares of Union Pacific in a research report on Friday, July 24th. Benchmark lifted their target price on shares of Union Pacific from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Bank of America boosted their price objective on shares of Union Pacific from $301.00 to $334.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Barclays reaffirmed an "overweight" rating and issued a $350.00 price target (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Finally, Citizens Jmp assumed coverage on shares of Union Pacific in a report on Wednesday, July 15th. They issued an "outperform" rating and a $350.00 price objective on the stock. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $320.89.

Insider Transactions at Union Pacific

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

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.

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