Westpac Banking Corp Invests $9.66 Million in Union Pacific Corporation $UNP

Westpac Banking Corp purchased a new position in Union Pacific Corporation (NYSE:UNP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,519 shares of the railroad operator’s stock, valued at approximately $9,661,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC purchased a new stake in Union Pacific in the 4th quarter valued at about $25,000. Tucker Asset Management LLC purchased a new position in shares of Union Pacific during the fourth quarter worth approximately $25,000. SWAN Capital LLC increased its position in shares of Union Pacific by 2,575.0% during the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 103 shares during the period. High Point Wealth Management LLC bought a new stake in shares of Union Pacific during the fourth quarter valued at approximately $26,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Union Pacific during the fourth quarter valued at approximately $27,000. Institutional investors own 80.38% of the company’s stock.

Insider Activity

In other news, EVP Eric J. Gehringer sold 2,991 shares of Union Pacific stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total value of $789,504.36. Following the transaction, the executive vice president directly owned 43,012 shares in the company, valued at approximately $11,353,447.52. This trade represents a 6.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

UNP has been the topic of several research analyst reports. Weiss Ratings raised Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Susquehanna lifted their target price on Union Pacific from $305.00 to $333.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. UBS Group reiterated a “neutral” rating and issued a $310.00 target price (up from $286.00) on shares of Union Pacific in a report on Friday, July 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $339.00 price target (up from $289.00) on shares of Union Pacific in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on Union Pacific from $304.00 to $334.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $320.89.

Union Pacific Price Performance

Shares of UNP opened at $307.97 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. The company has a 50 day moving average price of $286.30 and a 200-day moving average price of $267.60. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The stock has a market capitalization of $182.96 billion, a PE ratio of 24.94, a PEG ratio of 3.10 and a beta of 0.96.

Union Pacific (NYSE:UNP) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.15. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. Union Pacific’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $3.03 earnings per share. Equities analysts predict that Union Pacific Corporation will post 12.93 earnings per share for the current fiscal year.

Union Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This is a boost from Union Pacific’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.8%. Union Pacific’s payout ratio is 44.70%.

Union Pacific Profile

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two?thirds of the United States.