Sterling Capital Management LLC Lowers Stake in Union Pacific Co. (UNP)
Sterling Capital Management LLC decreased its stake in shares of Union Pacific Co. (NYSE:UNP) by 2.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,896 shares of the railroad operator’s stock after selling 1,112 shares during the quarter. Sterling Capital Management LLC’s holdings in Union Pacific were worth $6,219,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of UNP. Robeco Institutional Asset Management B.V. grew its holdings in Union Pacific by 1.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,000,435 shares of the railroad operator’s stock worth $134,498,000 after acquiring an additional 13,331 shares during the period. Ashmore Wealth Management LLC grew its holdings in Union Pacific by 9.3% in the first quarter. Ashmore Wealth Management LLC now owns 438,933 shares of the railroad operator’s stock valued at $59,006,000 after purchasing an additional 37,500 shares during the period. Suffolk Capital Management LLC acquired a new stake in Union Pacific in the first quarter valued at approximately $13,557,000. Castleview Partners LLC acquired a new stake in Union Pacific in the first quarter valued at approximately $285,000. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in Union Pacific by 5.6% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 357,275 shares of the railroad operator’s stock valued at $48,028,000 after purchasing an additional 18,870 shares during the period. 80.45% of the stock is owned by institutional investors.
Several brokerages have commented on UNP. Cowen reissued a “hold” rating and issued a $151.00 price objective on shares of Union Pacific in a report on Thursday, July 19th. Robert W. Baird raised their price objective on Union Pacific from $144.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, June 4th. Credit Suisse Group raised their price objective on Union Pacific from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, June 1st. BMO Capital Markets raised their price objective on Union Pacific from $158.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, June 1st. Finally, UBS Group raised their price objective on Union Pacific from $160.00 to $161.00 and gave the company a “buy” rating in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $147.35.
Union Pacific (NYSE:UNP) last announced its quarterly earnings results on Thursday, July 19th. The railroad operator reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.04. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.65 billion. Union Pacific had a return on equity of 23.63% and a net margin of 51.31%. Union Pacific’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.45 EPS. research analysts predict that Union Pacific Co. will post 7.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.04%. This is an increase from Union Pacific’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, August 30th. Union Pacific’s payout ratio is 55.27%.
In other Union Pacific news, EVP Lynden L. Tennison sold 8,450 shares of Union Pacific stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $151.72, for a total transaction of $1,282,034.00. Following the completion of the sale, the executive vice president now directly owns 53,978 shares of the company’s stock, valued at approximately $8,189,542.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.
About Union Pacific
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates railroads in the United States. It offers transportation services for agricultural products, including grains, commodities produced from grains, and food and beverage products; automotive, such as finished vehicles and automotive parts; and chemicals comprising industrial chemicals, plastics, fertilizers, petroleum and liquid petroleum gases, crude oil, and soda ash.
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