Skye Global Management LP Trims Stock Position in Union Pacific Co. (NYSE:UNP)

Skye Global Management LP decreased its stake in Union Pacific Co. (NYSE:UNP) by 44.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 596,000 shares of the railroad operator’s stock after selling 481,170 shares during the period. Union Pacific accounts for about 3.5% of Skye Global Management LP’s holdings, making the stock its 5th biggest holding. Skye Global Management LP owned 0.10% of Union Pacific worth $146,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cultivar Capital Inc. acquired a new position in shares of Union Pacific in the 2nd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in Union Pacific during the second quarter worth $28,000. Financial Gravity Asset Management Inc. raised its stake in Union Pacific by 3,250.0% during the second quarter. Financial Gravity Asset Management Inc. now owns 134 shares of the railroad operator’s stock worth $30,000 after buying an additional 130 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Union Pacific in the third quarter valued at $30,000. Finally, Fairscale Capital LLC acquired a new stake in Union Pacific during the 2nd quarter worth about $31,000. 80.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on UNP shares. TD Cowen cut their target price on Union Pacific from $255.00 to $252.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Citigroup increased their price target on Union Pacific from $255.00 to $267.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Union Pacific from $270.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Susquehanna dropped their target price on shares of Union Pacific from $260.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Raymond James raised their price target on shares of Union Pacific from $265.00 to $275.00 and gave the stock a “strong-buy” rating in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.80.

Union Pacific Stock Performance

Shares of UNP opened at $245.23 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a market cap of $148.67 billion, a PE ratio of 22.52, a PEG ratio of 2.43 and a beta of 1.06. Union Pacific Co. has a 1 year low of $218.55 and a 1 year high of $258.66. The stock’s fifty day moving average price is $240.13 and its two-hundred day moving average price is $238.56.

Union Pacific (NYSE:UNP) last released its quarterly earnings data on Thursday, October 24th. The railroad operator reported $2.75 EPS for the quarter, missing the consensus estimate of $2.78 by ($0.03). The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $6.14 billion. Union Pacific had a net margin of 27.33% and a return on equity of 41.79%. Union Pacific’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $2.51 earnings per share. On average, equities research analysts forecast that Union Pacific Co. will post 10.94 EPS for the current year.

Union Pacific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.19%. Union Pacific’s payout ratio is currently 49.22%.

About Union Pacific

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.