Union Pacific Co. (UNP) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. lowered its holdings in Union Pacific Co. (NYSE:UNP) by 1.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 188,342 shares of the railroad operator’s stock after selling 2,780 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Union Pacific were worth $31,491,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Adviser Investments LLC raised its position in shares of Union Pacific by 3.5% in the fourth quarter. Adviser Investments LLC now owns 22,303 shares of the railroad operator’s stock valued at $3,083,000 after purchasing an additional 760 shares during the period. Cascade Investment Advisors Inc. raised its position in shares of Union Pacific by 100.0% in the fourth quarter. Cascade Investment Advisors Inc. now owns 400 shares of the railroad operator’s stock valued at $55,000 after purchasing an additional 200 shares during the period. Private Capital Group LLC raised its position in shares of Union Pacific by 9.5% in the fourth quarter. Private Capital Group LLC now owns 2,523 shares of the railroad operator’s stock valued at $349,000 after purchasing an additional 218 shares during the period. Inlet Private Wealth LLC bought a new position in shares of Union Pacific in the fourth quarter valued at approximately $971,000. Finally, Wells Trecaso Financial Group LLC raised its position in shares of Union Pacific by 8.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 1,997 shares of the railroad operator’s stock valued at $276,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 79.14% of the company’s stock.
In other Union Pacific news, Director William J. Delaney III purchased 5,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $174.06 per share, for a total transaction of $870,300.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $870,300. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 sale, the vice president now owns 19,731 shares in the company, valued at approximately $3,354,270. The disclosure for this sale can be found here. Insiders have sold 31,667 shares of company stock worth $5,454,729 in the last quarter. Corporate insiders own 9.96% of the company’s stock.
Union Pacific (NYSE:UNP) last posted its quarterly earnings results on Thursday, April 18th. The railroad operator reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. Union Pacific had a net margin of 26.59% and a return on equity of 30.73%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Union Pacific Co. will post 9.07 EPS for the current fiscal year.
Union Pacific announced that its Board of Directors has approved a stock buyback plan on Thursday, February 7th that permits the company to repurchase 150,000,000 outstanding shares. This repurchase authorization permits the railroad operator to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.52 dividend on an annualized basis and a yield of 2.11%. Union Pacific’s dividend payout ratio is currently 44.50%.
UNP has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Loop Capital lowered shares of Union Pacific from a “buy” rating to a “hold” rating and dropped their target price for the stock from $193.00 to $182.00 in a research report on Tuesday, March 19th. Zacks Investment Research lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Citigroup boosted their target price on shares of Union Pacific from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. 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 report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $175.35.
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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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