Reliance Trust Co. of Delaware lessened its holdings in shares of Union Pacific Co. (NYSE:UNP) by 3.6% in the first quarter, Holdings Channel reports. The fund owned 11,903 shares of the railroad operator’s stock after selling 443 shares during the period. Reliance Trust Co. of Delaware’s holdings in Union Pacific were worth $1,991,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of UNP. Oregon Public Employees Retirement Fund lifted its position in Union Pacific by 18,524.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,738,808 shares of the railroad operator’s stock worth $237,000 after buying an additional 32,563,028 shares during the last quarter. Norges Bank bought a new stake in Union Pacific in the 4th quarter worth approximately $1,036,317,000. Jennison Associates LLC lifted its position in Union Pacific by 450.0% in the 4th quarter. Jennison Associates LLC now owns 5,134,698 shares of the railroad operator’s stock worth $709,769,000 after buying an additional 4,201,086 shares during the last quarter. Ellis Investment Partners LLC lifted its position in Union Pacific by 16,626.5% in the 1st quarter. Ellis Investment Partners LLC now owns 2,689,126 shares of the railroad operator’s stock worth $2,689,000 after buying an additional 2,673,049 shares during the last quarter. Finally, Boston Partners lifted its position in Union Pacific by 192.1% in the 4th quarter. Boston Partners now owns 2,449,175 shares of the railroad operator’s stock worth $338,550,000 after buying an additional 1,610,779 shares during the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.
Shares of Union Pacific stock opened at $172.65 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.60 and a current ratio of 0.75. The company has a market capitalization of $123.90 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.93 and a beta of 1.11. Union Pacific Co. has a one year low of $128.08 and a one year high of $180.02.
Union Pacific declared that its board has initiated a stock buyback plan on Thursday, February 7th that allows the company to buyback 150,000,000 outstanding shares. This buyback authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.52 dividend on an annualized basis and a yield of 2.04%. Union Pacific’s dividend payout ratio (DPR) is currently 44.50%.
In other news, VP Todd M. Rynaski sold 8,802 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.00, for a total transaction of $1,496,340.00. Following the transaction, the vice president now directly owns 19,731 shares of the company’s stock, valued at $3,354,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert M. Knight, Jr. sold 1,380 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $180.01, for a total value of $248,413.80. Following the transaction, the executive vice president now directly owns 94,943 shares in the company, valued at $17,090,689.43. The disclosure for this sale can be found here. Insiders sold a total of 31,667 shares of company stock worth $5,454,729 over the last ninety days. Insiders own 9.96% of the company’s stock.
A number of research firms recently weighed in on UNP. Loop Capital downgraded Union Pacific from a “buy” rating to a “hold” rating and dropped their target price for the stock from $193.00 to $182.00 in a research report on Tuesday, March 19th. Citigroup boosted their target price on Union Pacific from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. BMO Capital Markets boosted their target price on Union Pacific to $190.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Deutsche Bank set a $200.00 target price on Union Pacific and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, TD Securities boosted their target price on Union Pacific from $170.00 to $180.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $175.35.
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Union Pacific Profile
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, engages in the railroad business in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, fertilizers, and food and beverage products; coal and sand, as well as petroleum, liquid petroleum gases, and renewables; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, and soda ash, as well as intermodal and finished vehicles.
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