Cowen Reiterates Outperform Rating for Union Pacific (UNP)
Union Pacific (NYSE:UNP)‘s stock had its “outperform” rating restated by equities researchers at Cowen in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $187.00 target price on the railroad operator’s stock, up from their previous target price of $178.00. Cowen’s price target would suggest a potential upside of 5.54% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Seaport Global Securities upgraded Union Pacific from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, January 8th. ValuEngine upgraded Union Pacific from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. Citigroup increased their target price on Union Pacific from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Loop Capital cut Union Pacific from a “buy” rating to a “hold” rating and lowered their target price for the company from $193.00 to $182.00 in a report on Tuesday, March 19th. Finally, TD Securities increased their target price on Union Pacific from $155.00 to $170.00 and gave the company a “hold” rating in a report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $174.40.
NYSE:UNP traded down $0.54 during trading hours on Thursday, reaching $177.18. 770,017 shares of the company traded hands, compared to its average volume of 4,155,942. The stock has a market cap of $128.87 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.74 and a current ratio of 0.75. Union Pacific has a 1-year low of $126.37 and a 1-year high of $179.55.
Union Pacific announced that its board has initiated a stock repurchase 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. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, EVP Robert M. Knight, Jr. sold 10,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $170.01, for a total value of $1,700,100.00. Following the transaction, the executive vice president now directly owns 94,943 shares of the company’s stock, valued at approximately $16,141,259.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rhonda S. Ferguson sold 11,485 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $175.00, for a total value of $2,009,875.00. Following the completion of the transaction, the executive vice president now directly owns 53,858 shares in the company, valued at $9,425,150. The disclosure for this sale can be found here. Insiders have sold 30,287 shares of company stock worth $5,206,315 in the last 90 days. Insiders own 9.96% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in 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. Oregon Public Employees Retirement Fund raised its position in Union Pacific by 18,524.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,738,808 shares of the railroad operator’s stock valued at $237,000 after purchasing an additional 32,563,028 shares during the period. Morgan Stanley raised its position in Union Pacific by 5.7% in the third quarter. Morgan Stanley now owns 15,894,983 shares of the railroad operator’s stock valued at $2,588,181,000 after purchasing an additional 859,164 shares during the period. Geode Capital Management LLC raised its position in Union Pacific by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 9,640,019 shares of the railroad operator’s stock valued at $1,330,401,000 after purchasing an additional 688,775 shares during the period. Finally, Northern Trust Corp raised its position in Union Pacific by 3.4% in the fourth quarter. Northern Trust Corp now owns 8,284,737 shares of the railroad operator’s stock valued at $1,145,199,000 after purchasing an additional 270,547 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.
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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