Shelter Mutual Insurance Co decreased its stake in shares of Union Pacific Co. (NYSE:UNP) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,973 shares of the railroad operator’s stock after selling 5,400 shares during the period. Union Pacific comprises about 2.7% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 11th biggest holding. Shelter Mutual Insurance Co’s holdings in Union Pacific were worth $9,466,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Union Pacific by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,425,071 shares of the railroad operator’s stock valued at $473,437,000 after buying an additional 22,644 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Union Pacific by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 9,640,019 shares of the railroad operator’s stock worth $1,330,401,000 after purchasing an additional 688,775 shares in the last quarter. Griffin Asset Management Inc. increased its position in shares of Union Pacific by 3.1% during the fourth quarter. Griffin Asset Management Inc. now owns 7,398 shares of the railroad operator’s stock worth $1,023,000 after purchasing an additional 225 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Union Pacific by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 280,407 shares of the railroad operator’s stock worth $38,761,000 after purchasing an additional 7,554 shares in the last quarter. Finally, Actinver Wealth Management Inc. acquired a new stake in shares of Union Pacific during the fourth quarter worth about $754,000. 79.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Robert M. Knight, Jr. sold 8,620 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $180.04, for a total transaction of $1,551,944.80. Following the sale, the executive vice president now owns 94,943 shares of the company’s stock, valued at approximately $17,093,537.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Delaney III purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $174.06 per share, for a total transaction of $870,300.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $870,300. The disclosure for this purchase can be found here. 9.96% of the stock is owned by insiders.
Union Pacific (NYSE:UNP) last announced its quarterly earnings results on Thursday, July 18th. The railroad operator reported $2.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.10. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.62 billion. Union Pacific had a return on equity of 31.74% and a net margin of 26.95%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 EPS. As a group, research analysts predict that Union Pacific Co. will post 8.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid 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 of this dividend is Thursday, August 29th. This represents a $3.88 annualized dividend and a dividend yield of 2.38%. Union Pacific’s payout ratio is 44.50%.
A number of research firms have recently commented on UNP. Deutsche Bank lifted their target price on Union Pacific from $197.00 to $206.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Atlantic Securities upgraded Union Pacific from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $195.00 in a research report on Friday, July 26th. TD Securities lifted 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. Morgan Stanley set a $140.00 target price on Union Pacific and gave the stock a “sell” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their target price on Union Pacific to $190.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $182.62.
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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