Palisade Capital Management LP Invests $7.83 Million in Union Pacific Corporation $UNP

Palisade Capital Management LP bought a new position in Union Pacific Corporation (NYSE:UNP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 28,790 shares of the railroad operator’s stock, valued at approximately $7,831,000.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Union Pacific by 4.3% during the fourth quarter. State Street Corp now owns 26,330,080 shares of the railroad operator’s stock worth $6,090,674,000 after purchasing an additional 1,082,285 shares during the last quarter. Capital World Investors increased its position in shares of Union Pacific by 92.1% during the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator’s stock valued at $4,658,142,000 after purchasing an additional 9,655,306 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Union Pacific by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 15,360,668 shares of the railroad operator’s stock valued at $3,552,550,000 after purchasing an additional 296,814 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Union Pacific by 16.8% during the 1st quarter. Bank of America Corp DE now owns 14,463,071 shares of the railroad operator’s stock valued at $3,509,030,000 after buying an additional 2,084,808 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Union Pacific by 5.0% during the 4th quarter. Morgan Stanley now owns 12,636,050 shares of the railroad operator’s stock valued at $2,922,971,000 after buying an additional 602,647 shares in the last quarter. Institutional investors own 80.38% of the company’s stock.

Analyst Ratings Changes

UNP has been the subject of several research reports. Citizens Jmp began coverage on Union Pacific in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $350.00 target price for the company. Evercore reissued an “outperform” rating and set a $294.00 price target on shares of Union Pacific in a research note on Thursday, June 25th. Wells Fargo & Company restated an “overweight” rating and issued a $335.00 price objective (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Stephens raised shares of Union Pacific to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Robert W. Baird lifted their target price on shares of Union Pacific from $311.00 to $344.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $320.89.

Insider Buying and Selling at Union Pacific

In other news, EVP Eric J. Gehringer sold 2,991 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the completion of the sale, the executive vice president directly owned 43,012 shares in the company, valued at approximately $11,353,447.52. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Union Pacific Stock Up 0.1%

Shares of Union Pacific stock opened at $310.11 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. Union Pacific Corporation has a 52-week low of $210.84 and a 52-week high of $315.99. The company’s 50 day moving average price is $287.99 and its 200-day moving average price is $268.73. The stock has a market capitalization of $184.23 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 3.16 and a beta of 0.96.

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

Union Pacific Increases Dividend

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