Watch Point Trust Co grew its stake in shares of Union Pacific Co. (NYSE:UNP) by 66.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,497 shares of the railroad operator’s stock after purchasing an additional 1,000 shares during the period. Watch Point Trust Co’s holdings in Union Pacific were worth $422,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new stake in Union Pacific in the 2nd quarter worth about $61,000. Hayden Royal LLC purchased a new stake in Union Pacific in the 2nd quarter worth about $207,000. Advisory Services Network LLC lifted its stake in Union Pacific by 4.9% in the 2nd quarter. Advisory Services Network LLC now owns 18,449 shares of the railroad operator’s stock worth $3,120,000 after acquiring an additional 857 shares in the last quarter. Coastal Investment Advisors Inc. lifted its stake in Union Pacific by 18.1% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,776 shares of the railroad operator’s stock worth $469,000 after acquiring an additional 426 shares in the last quarter. Finally, ELCO Management Co. LLC purchased a new stake in Union Pacific in the 2nd quarter worth about $609,000. 79.02% of the stock is owned by institutional investors and hedge funds.
Shares of UNP traded down $0.92 during midday trading on Thursday, reaching $162.78. 65,036 shares of the stock were exchanged, compared to its average volume of 3,614,512. Union Pacific Co. has a 12-month low of $128.08 and a 12-month high of $180.54. The business has a 50 day simple moving average of $171.51. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.58 and a current ratio of 0.72. The firm has a market cap of $116.72 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.97 per share. This is a positive change from Union Pacific’s previous quarterly dividend of $0.88. The ex-dividend date is Thursday, August 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.38%. Union Pacific’s dividend payout ratio is currently 44.50%.
Several brokerages recently issued reports on UNP. BMO Capital Markets increased their price objective on Union Pacific to $190.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Barclays downgraded Union Pacific from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $190.00 to $170.00 in a research note on Thursday, June 13th. Stifel Nicolaus set a $170.00 price objective on Union Pacific and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group began coverage on Union Pacific in a research note on Wednesday, July 10th. They issued a “buy” rating and a $198.00 price objective for the company. Finally, Cowen reissued a “buy” rating and issued a $184.00 price objective on shares of Union Pacific in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. Union Pacific currently has an average rating of “Buy” and a consensus price target of $182.62.
In related news, Director William J. Delaney III acquired 5,000 shares of the stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $174.06 per share, with a total value of $870,300.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $870,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert M. Knight, Jr. sold 8,620 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $180.04, for a total value of $1,551,944.80. Following the transaction, the executive vice president now directly owns 94,943 shares in the company, valued at approximately $17,093,537.72. The disclosure for this sale can be found here. Corporate insiders own 9.96% of the company’s stock.
About Union Pacific
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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