SeaCrest Wealth Management LLC Cuts Stock Position in Union Pacific Co. (NYSE:UNP)

SeaCrest Wealth Management LLC cut its holdings in Union Pacific Co. (NYSE:UNP) by 12.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,095 shares of the railroad operator’s stock after selling 301 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Union Pacific were worth $474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pallas Capital Advisors LLC boosted its stake in shares of Union Pacific by 24.1% in the second quarter. Pallas Capital Advisors LLC now owns 1,637 shares of the railroad operator’s stock worth $398,000 after acquiring an additional 318 shares during the last quarter. Sunpointe LLC boosted its stake in shares of Union Pacific by 1.8% in the second quarter. Sunpointe LLC now owns 3,075 shares of the railroad operator’s stock worth $696,000 after acquiring an additional 53 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Union Pacific by 0.8% in the second quarter. First Citizens Bank & Trust Co. now owns 69,265 shares of the railroad operator’s stock worth $15,672,000 after acquiring an additional 573 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its stake in shares of Union Pacific by 11.3% in the second quarter. ZWJ Investment Counsel Inc. now owns 4,806 shares of the railroad operator’s stock worth $1,087,000 after acquiring an additional 486 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Union Pacific by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 76,232 shares of the railroad operator’s stock worth $17,249,000 after acquiring an additional 1,593 shares during the last quarter. 80.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNP has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on Union Pacific from $281.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $266.00 price target on shares of Union Pacific in a research note on Monday, July 29th. Raymond James reaffirmed a “strong-buy” rating and issued a $280.00 price target (up previously from $275.00) on shares of Union Pacific in a research note on Friday, April 26th. StockNews.com lowered Union Pacific from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Evercore ISI boosted their price objective on Union Pacific from $271.00 to $273.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Union Pacific has a consensus rating of “Moderate Buy” and an average target price of $258.79.

Union Pacific Stock Down 0.1 %

NYSE UNP traded down $0.23 during trading hours on Wednesday, hitting $246.27. 198,846 shares of the company were exchanged, compared to its average volume of 2,261,443. The company has a 50 day moving average of $233.49 and a two-hundred day moving average of $238.99. The firm has a market cap of $150.03 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.17 and a beta of 1.06. Union Pacific Co. has a 52-week low of $199.33 and a 52-week high of $258.66. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.89.

Union Pacific (NYSE:UNP) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.03. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Union Pacific had a return on equity of 42.62% and a net margin of 26.90%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. Equities research analysts anticipate that Union Pacific Co. will post 11.11 earnings per share for the current year.

Union Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $1.34 per share. This is a boost from Union Pacific’s previous quarterly dividend of $1.30. This represents a $5.36 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, August 30th. Union Pacific’s dividend payout ratio is currently 49.62%.

Insider Transactions at Union Pacific

In other news, President Elizabeth F. Whited sold 3,552 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $246.59, for a total transaction of $875,887.68. Following the completion of the transaction, the president now directly owns 64,945 shares of the company’s stock, valued at approximately $16,014,787.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

About Union Pacific

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.