Hancock Whitney Corp Has $12.54 Million Holdings in Union Pacific Co. (UNP)
Hancock Whitney Corp reduced its position in shares of Union Pacific Co. (NYSE:UNP) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,685 shares of the railroad operator’s stock after selling 849 shares during the period. Hancock Whitney Corp’s holdings in Union Pacific were worth $12,536,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Ocean LLC acquired a new stake in shares of Union Pacific in the fourth quarter worth approximately $25,000. Gradient Investments LLC boosted its position in shares of Union Pacific by 117.1% in the fourth quarter. Gradient Investments LLC now owns 241 shares of the railroad operator’s stock worth $33,000 after acquiring an additional 130 shares during the last quarter. Tributary Capital Management LLC acquired a new position in Union Pacific during the fourth quarter valued at approximately $42,000. Essex Investment Management Co. LLC acquired a new position in Union Pacific during the fourth quarter valued at approximately $47,000. Finally, Howe & Rusling Inc. lifted its position in Union Pacific by 25.4% during the fourth quarter. Howe & Rusling Inc. now owns 346 shares of the railroad operator’s stock valued at $48,000 after buying an additional 70 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
UNP opened at $166.09 on Wednesday. The company has a market cap of $121.94 billion, a PE ratio of 21.00, a PEG ratio of 1.87 and a beta of 1.11. Union Pacific Co. has a 52-week low of $126.37 and a 52-week high of $172.44. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.90.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, February 27th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Union Pacific’s previous quarterly dividend of $0.80. Union Pacific’s dividend payout ratio (DPR) is currently 44.50%.
Union Pacific announced that its Board of Directors has initiated a share repurchase program on Thursday, February 7th that authorizes the company to repurchase 150,000,000 shares. This repurchase authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
UNP has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of Union Pacific from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. ValuEngine cut shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Cowen raised shares of Union Pacific from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $153.00 to $178.00 in a research report on Tuesday, January 8th. Zacks Investment Research cut shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, TD Securities lifted their price target on shares of Union Pacific from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, January 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $170.16.
In related news, EVP Robert M. Knight, Jr. sold 10,000 shares of Union Pacific stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $170.01, for a total value of $1,700,100.00. Following the completion of the sale, the executive vice president now owns 94,943 shares in the company, valued at $16,141,259.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd M. Rynaski sold 8,802 shares of Union Pacific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.00, for a total transaction of $1,496,340.00. Following the completion of the sale, the vice president now owns 19,731 shares of the company’s stock, valued at approximately $3,354,270. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
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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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