Summit Global Investments Lowers Stake in Union Pacific Co. (NYSE:UNP)

Summit Global Investments trimmed its holdings in Union Pacific Co. (NYSE:UNP) by 2.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 44,672 shares of the railroad operator’s stock after selling 1,081 shares during the period. Summit Global Investments’ holdings in Union Pacific were worth $11,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UNP. Cultivar Capital Inc. purchased a new position in Union Pacific in the 2nd quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Union Pacific during the second quarter worth about $28,000. Financial Gravity Asset Management Inc. raised its holdings in Union Pacific by 3,250.0% during the second quarter. Financial Gravity Asset Management Inc. now owns 134 shares of the railroad operator’s stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Union Pacific in the 3rd quarter valued at approximately $30,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Union Pacific in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays dropped their price objective on Union Pacific from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their price target on Union Pacific from $270.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Raymond James raised their target price on shares of Union Pacific from $265.00 to $275.00 and gave the company a “strong-buy” rating in a report on Monday, October 14th. Robert W. Baird lowered their price target on shares of Union Pacific from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI lowered Union Pacific from an “outperform” rating to an “inline” rating and dropped their target price for the company from $254.00 to $247.00 in a research note on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.15.

Union Pacific Stock Down 2.4 %

Shares of Union Pacific stock opened at $242.56 on Friday. The company has a fifty day moving average price of $243.88 and a 200 day moving average price of $238.53. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.79. Union Pacific Co. has a twelve month low of $208.14 and a twelve month high of $258.66. The stock has a market cap of $147.05 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.46 and a beta of 1.06.

Union Pacific (NYSE:UNP) last announced its earnings results on Thursday, October 24th. The railroad operator reported $2.75 EPS for the quarter, missing the consensus estimate of $2.78 by ($0.03). The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $6.14 billion. Union Pacific had a net margin of 27.33% and a return on equity of 41.79%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 earnings per share. Equities research analysts forecast that Union Pacific Co. will post 10.94 earnings per share for the current fiscal year.

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.