Corient Private Wealth LP raised its position in shares of Union Pacific Corporation (NYSE:UNP – Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 507,523 shares of the railroad operator’s stock after acquiring an additional 45,296 shares during the quarter. Corient Private Wealth LP’s holdings in Union Pacific were worth $138,046,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Palestra Capital Management LLC raised its position in shares of Union Pacific by 5.3% in the 2nd quarter. Palestra Capital Management LLC now owns 762,465 shares of the railroad operator’s stock worth $207,390,000 after acquiring an additional 38,563 shares in the last quarter. Perennial Investment Advisors LLC lifted its stake in shares of Union Pacific by 12.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 2,148 shares of the railroad operator’s stock valued at $584,000 after purchasing an additional 241 shares during the period. PointState Capital LP bought a new stake in shares of Union Pacific during the second quarter valued at approximately $137,105,000. Ausdal Financial Partners Inc. boosted its position in shares of Union Pacific by 12.6% during the second quarter. Ausdal Financial Partners Inc. now owns 1,701 shares of the railroad operator’s stock valued at $463,000 after purchasing an additional 191 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Union Pacific by 0.4% in the second quarter. Bank of America Corp DE now owns 14,527,563 shares of the railroad operator’s stock worth $3,951,497,000 after purchasing an additional 64,492 shares during the period. Hedge funds and other institutional investors own 80.38% of the company’s stock.
Union Pacific Stock Up 0.5%
UNP stock opened at $311.21 on Thursday. Union Pacific Corporation has a twelve month low of $210.84 and a twelve month 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 firm has a market cap of $184.88 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.16 and a beta of 0.96. The business has a 50 day moving average of $289.07 and a 200 day moving average of $269.15.
Union Pacific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. The ex-dividend date is Monday, August 31st. This is a boost from Union Pacific’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 1.8%. Union Pacific’s dividend payout ratio is 44.70%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Susquehanna increased their price objective on Union Pacific from $305.00 to $333.00 and gave the stock a “positive” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Stephens raised shares of Union Pacific to a “strong-buy” rating in a research report on Wednesday, July 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $320.00 price target (up from $285.00) on shares of Union Pacific in a research note on Friday, July 24th. Finally, 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 research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $320.89.
Get Our Latest Report on Union Pacific
Insider Activity
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 value of $789,504.36. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate 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.
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