Bruderman Asset Management LLC lifted its stake in Union Pacific Co. (NYSE:UNP) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,467 shares of the railroad operator’s stock after purchasing an additional 380 shares during the quarter. Bruderman Asset Management LLC’s holdings in Union Pacific were worth $1,379,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Commonwealth Bank of Australia boosted its holdings in shares of Union Pacific by 9.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 77,962 shares of the railroad operator’s stock worth $10,842,000 after purchasing an additional 6,562 shares during the period. Baldwin Brothers Inc. MA boosted its holdings in shares of Union Pacific by 4.5% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 76,173 shares of the railroad operator’s stock worth $12,403,000 after purchasing an additional 3,251 shares during the period. Parkside Investments LLC purchased a new position in shares of Union Pacific in the 3rd quarter worth approximately $185,000. Morgan Stanley boosted its holdings in shares of Union Pacific by 2.8% in the 2nd quarter. Morgan Stanley now owns 15,035,819 shares of the railroad operator’s stock worth $2,130,275,000 after purchasing an additional 413,967 shares during the period. Finally, Putnam Investments LLC boosted its holdings in shares of Union Pacific by 44.9% in the 2nd quarter. Putnam Investments LLC now owns 2,554,019 shares of the railroad operator’s stock worth $361,853,000 after purchasing an additional 791,990 shares during the period. Hedge funds and other institutional investors own 80.15% of the company’s stock.
UNP opened at $143.54 on Friday. Union Pacific Co. has a 52-week low of $115.69 and a 52-week high of $165.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.06 and a quick ratio of 0.89. The firm has a market cap of $106.17 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, November 29th. Union Pacific’s dividend payout ratio (DPR) is presently 55.27%.
A number of equities analysts recently issued reports on the company. Loop Capital upgraded Union Pacific from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Barclays restated a “buy” rating and set a $180.00 price objective on shares of Union Pacific in a report on Wednesday, September 26th. Morgan Stanley cut Union Pacific from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $141.00 to $134.00 in a report on Monday, October 22nd. Credit Suisse Group boosted their price objective on Union Pacific from $167.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. Finally, Bank of America boosted their price objective on Union Pacific from $175.00 to $177.00 and gave the company a “buy” rating in a report on Monday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $164.47.
In other Union Pacific news, EVP Lynden L. Tennison sold 8,450 shares of Union Pacific stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $151.72, for a total transaction of $1,282,034.00. Following the completion of the sale, the executive vice president now directly owns 53,978 shares of the company’s stock, valued at approximately $8,189,542.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert M. Knight, Jr. sold 20,000 shares of Union Pacific stock in a transaction on Monday, September 24th. The shares were sold at an average price of $163.81, for a total value of $3,276,200.00. Following the sale, the executive vice president now directly owns 106,518 shares of the company’s stock, valued at $17,448,713.58. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
About Union Pacific
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates railroads in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, and food and beverage products; automotive, such as finished vehicles and automotive parts; and chemicals comprising industrial chemicals, plastics, fertilizers, petroleum and liquid petroleum gases, crude oil, and soda ash.
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