Union Pacific Co. (NYSE:UNP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in Union Pacific Co. (NYSE:UNP) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 268,533 shares of the railroad operator’s stock after selling 8,435 shares during the period. CIBC Asset Management Inc’s holdings in Union Pacific were worth $60,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A acquired a new stake in shares of Union Pacific in the fourth quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new stake in Union Pacific during the 1st quarter valued at $26,000. Raleigh Capital Management Inc. increased its position in Union Pacific by 211.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 109 shares of the railroad operator’s stock worth $27,000 after buying an additional 74 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Union Pacific in the fourth quarter worth $29,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Union Pacific in the second quarter valued at $27,000. 80.38% of the stock is currently owned by hedge funds and other institutional investors.

Union Pacific Trading Up 1.1 %

NYSE UNP traded up $2.89 during mid-day trading on Monday, hitting $256.09. The company’s stock had a trading volume of 2,386,500 shares, compared to its average volume of 2,260,288. The firm has a market capitalization of $156.25 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.05 and a quick ratio of 0.86. Union Pacific Co. has a 52-week low of $199.33 and a 52-week high of $258.66. The stock’s fifty day simple moving average is $237.66 and its two-hundred day simple moving average is $239.06.

Union Pacific (NYSE:UNP) last issued its earnings results on Thursday, July 25th. The railroad operator reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.03. Union Pacific had a net margin of 26.90% and a return on equity of 42.62%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter last year, the firm posted $2.57 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts expect that Union Pacific Co. will post 11.11 EPS for the current year.

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a $1.34 dividend. This is an increase from Union Pacific’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, August 30th. This represents a $5.36 annualized dividend and a dividend yield of 2.09%. Union Pacific’s dividend payout ratio is presently 51.15%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Susquehanna cut their target price on shares of Union Pacific from $270.00 to $250.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Benchmark reissued a “buy” rating and issued a $266.00 price objective on shares of Union Pacific in a research report on Monday, July 29th. Wells Fargo & Company started coverage on shares of Union Pacific in a research report on Friday, June 7th. They set an “overweight” rating and a $270.00 target price on the stock. Loop Capital downgraded Union Pacific from a “buy” rating to a “hold” rating and cut their price target for the company from $276.00 to $238.00 in a report on Monday, June 17th. Finally, Stifel Nicolaus reduced their price target on Union Pacific from $267.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Union Pacific currently has a consensus rating of “Moderate Buy” and an average price target of $258.79.

Insider Activity

In other Union Pacific news, President Elizabeth F. Whited sold 3,552 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $246.59, for a total value of $875,887.68. Following the completion of the transaction, the president now owns 64,945 shares in the company, valued at approximately $16,014,787.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.28% of the company’s stock.

Union Pacific Company Profile

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.