Magellan Asset Management Ltd Acquires New Stake in Union Pacific Corporation $UNP

Magellan Asset Management Ltd purchased a new stake in shares of Union Pacific Corporation (NYSE:UNP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 251,472 shares of the railroad operator’s stock, valued at approximately $68,400,000. Union Pacific accounts for about 1.5% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of UNP. Elefante Mark B bought a new stake in Union Pacific in the second quarter worth about $408,000. Berry Wealth Group LP acquired a new position in shares of Union Pacific in the 2nd quarter worth approximately $211,000. Haverford Trust Co bought a new stake in shares of Union Pacific in the 2nd quarter worth approximately $18,833,000. Clear Harbor Asset Management LLC bought a new stake in shares of Union Pacific in the 2nd quarter worth approximately $6,296,000. Finally, Davis Asset Management L.P. bought a new stake in shares of Union Pacific in the 2nd quarter worth approximately $326,000. Institutional investors own 80.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citizens Jmp initiated coverage on Union Pacific in a research note on Wednesday, July 15th. They set an “outperform” rating and a $350.00 price objective for the company. Citigroup increased their price target on Union Pacific from $326.00 to $349.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Bank of America boosted their price objective on Union Pacific from $301.00 to $334.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and set a $294.00 price objective on shares of Union Pacific in a research note on Thursday, June 25th. Finally, Barclays reiterated an “overweight” rating and issued a $350.00 target price (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.89.

Insider Transactions at Union Pacific

In related news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total value of $789,504.36. Following the completion of the sale, the executive vice president owned 43,012 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.22% of the stock is owned by company insiders.

Union Pacific Stock Down 0.0%

Union Pacific stock opened at $307.97 on Monday. Union Pacific Corporation has a twelve month low of $210.84 and a twelve month high of $315.99. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. The firm has a market cap of $182.96 billion, a PE ratio of 24.94, a P/E/G ratio of 3.14 and a beta of 0.96. The firm’s 50 day moving average price is $286.30 and its two-hundred day moving average price is $267.83.

Union Pacific (NYSE:UNP) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.15. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the business posted $3.03 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts predict that Union Pacific Corporation will post 12.93 EPS for the current fiscal year.

Union Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio (DPR) is presently 44.70%.

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.