Alta Capital Management LLC Reduces Stake in Union Pacific Co. (UNP)
Alta Capital Management LLC decreased its holdings in shares of Union Pacific Co. (NYSE:UNP) by 5.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 275,601 shares of the railroad operator’s stock after selling 14,568 shares during the quarter. Union Pacific comprises about 2.7% of Alta Capital Management LLC’s holdings, making the stock its 15th biggest position. Alta Capital Management LLC’s holdings in Union Pacific were worth $46,080,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Paradigm Financial Partners LLC purchased a new stake in shares of Union Pacific in the fourth quarter valued at about $912,000. California State Teachers Retirement System grew its holdings in shares of Union Pacific by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 1,340,870 shares of the railroad operator’s stock valued at $185,348,000 after purchasing an additional 24,984 shares during the period. Segment Wealth Management LLC grew its holdings in shares of Union Pacific by 5.9% in the fourth quarter. Segment Wealth Management LLC now owns 32,454 shares of the railroad operator’s stock valued at $4,486,000 after purchasing an additional 1,820 shares during the period. Claybrook Capital LLC purchased a new stake in shares of Union Pacific in the fourth quarter valued at about $85,000. Finally, BlackRock Inc. grew its holdings in shares of Union Pacific by 2.2% in the fourth quarter. BlackRock Inc. now owns 48,020,051 shares of the railroad operator’s stock valued at $6,637,811,000 after purchasing an additional 1,029,260 shares during the period. 81.28% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on UNP. BMO Capital Markets increased their target price on shares of Union Pacific to $190.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Raymond James increased their target price on shares of Union Pacific from $192.00 to $201.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 22nd. TD Securities increased their target price on shares of Union Pacific from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. ValuEngine raised shares of Union Pacific from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Cowen reaffirmed an “outperform” rating and set a $187.00 target price (up previously from $178.00) on shares of Union Pacific in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Union Pacific presently has a consensus rating of “Buy” and a consensus price target of $175.35.
Shares of UNP opened at $173.77 on Thursday. The stock has a market cap of $121.60 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. Union Pacific Co. has a 1 year low of $128.08 and a 1 year high of $180.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.60 and a current ratio of 0.75.
Union Pacific (NYSE:UNP) last issued its quarterly earnings results on Thursday, April 18th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Union Pacific had a net margin of 26.59% and a return on equity of 30.73%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. As a group, analysts predict that Union Pacific Co. will post 9.06 EPS for the current year.
Union Pacific announced that its Board of Directors has initiated a stock buyback program on Thursday, February 7th that allows the company to buyback 150,000,000 outstanding shares. This buyback authorization allows the railroad operator to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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