Westwood Holdings Group Inc. trimmed its position in Union Pacific Co. (NYSE:UNP) by 25.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 688,985 shares of the railroad operator’s stock after selling 235,488 shares during the quarter. Union Pacific makes up approximately 1.3% of Westwood Holdings Group Inc.’s holdings, making the stock its 12th largest position. Westwood Holdings Group Inc. owned 0.10% of Union Pacific worth $116,514,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Courier Capital LLC boosted its position in Union Pacific by 5.8% during the 1st quarter. Courier Capital LLC now owns 4,620 shares of the railroad operator’s stock valued at $772,000 after purchasing an additional 252 shares during the period. Private Capital Group LLC boosted its position in Union Pacific by 12.6% during the 1st quarter. Private Capital Group LLC now owns 2,842 shares of the railroad operator’s stock valued at $475,000 after purchasing an additional 319 shares during the period. Assenagon Asset Management S.A. boosted its position in Union Pacific by 2,401.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 298,159 shares of the railroad operator’s stock valued at $49,852,000 after purchasing an additional 286,238 shares during the period. Brighton Jones LLC boosted its position in Union Pacific by 32.1% during the 1st quarter. Brighton Jones LLC now owns 6,559 shares of the railroad operator’s stock valued at $1,097,000 after purchasing an additional 1,595 shares during the period. Finally, Flaharty Asset Management LLC acquired a new position in Union Pacific during the 1st quarter valued at approximately $273,000. Institutional investors and hedge funds own 77.77% of the company’s stock.
UNP has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on Union Pacific in a research report on Wednesday, July 10th. They set a “buy” rating and a $198.00 price target for the company. Zacks Investment Research upgraded Union Pacific from a “sell” rating to a “hold” rating and set a $184.00 price target for the company in a research report on Monday, July 22nd. ValuEngine lowered Union Pacific from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Sanford C. Bernstein set a $177.00 price target on Union Pacific and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Atlantic Securities upgraded Union Pacific from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $195.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $183.15.
Union Pacific (NYSE:UNP) last announced its quarterly earnings data on Thursday, July 18th. The railroad operator reported $2.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.10. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.62 billion. Union Pacific had a return on equity of 31.74% and a net margin of 26.95%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share. As a group, research analysts forecast that Union Pacific Co. will post 8.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a $0.97 dividend. This is a positive change from Union Pacific’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $3.88 annualized dividend and a dividend yield of 2.32%. Union Pacific’s dividend payout ratio is 49.05%.
In other news, EVP Robert M. Knight, Jr. sold 8,620 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $180.04, for a total value of $1,551,944.80. Following the completion of the sale, the executive vice president now owns 94,943 shares in the company, valued at $17,093,537.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.96% of the company’s stock.
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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