Pictet Asset Management Holding SA Sells 113,350 Shares of Union Pacific Corporation $UNP

Pictet Asset Management Holding SA decreased its position in Union Pacific Corporation (NYSE:UNP) by 17.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 540,956 shares of the railroad operator’s stock after selling 113,350 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of Union Pacific worth $147,210,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Eastern Bank increased its holdings in Union Pacific by 2.6% in the 3rd quarter. Eastern Bank now owns 214,567 shares of the railroad operator’s stock worth $58,390,000 after acquiring an additional 5,380 shares in the last quarter. BNP Paribas lifted its holdings in Union Pacific by 21.5% during the second quarter. BNP Paribas now owns 60,465 shares of the railroad operator’s stock valued at $16,454,000 after purchasing an additional 10,706 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Union Pacific by 9.4% during the second quarter. QRG Capital Management Inc. now owns 102,949 shares of the railroad operator’s stock valued at $28,002,000 after purchasing an additional 8,842 shares in the last quarter. KBC Group NV lifted its holdings in Union Pacific by 17.7% during the second quarter. KBC Group NV now owns 108,489 shares of the railroad operator’s stock valued at $29,509,000 after purchasing an additional 16,295 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new position in Union Pacific during the first quarter valued at $9,151,000. Institutional investors and hedge funds own 80.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UNP. Citizens Jmp began coverage on shares of Union Pacific in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $350.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Union Pacific from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Erste Group Bank initiated coverage on shares of Union Pacific in a research note on Thursday, August 27th. They issued a “buy” rating on the stock. Weiss Ratings raised shares of Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $320.00 price objective (up from $285.00) on shares of Union Pacific in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Union Pacific presently has a consensus rating of “Moderate Buy” and an average target price of $325.09.

Union Pacific Price Performance

Union Pacific stock opened at $290.50 on Monday. The company has a fifty day simple moving average of $286.72 and a 200-day simple moving average of $271.90. The firm has a market capitalization of $172.63 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.67 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 1.32. Union Pacific Corporation has a 52-week low of $218.20 and a 52-week high of $315.99.

Union Pacific (NYSE:UNP) last posted its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.06. Union Pacific had a net margin of 28.90% and a return on equity of 37.54%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the previous year, the business posted $3.08 earnings per share. Union Pacific’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that Union Pacific Corporation will post 13.13 EPS for the current fiscal year.

Union Pacific Profile

Union Pacific Corporation operates one of the largest freight rail networks in the United States through its subsidiary, Union Pacific Railroad. Its network serves 23 states across the western two-thirds of the country and connects with other railroads, ports and border crossings, including routes to Mexico and Canada.

The company transports a broad range of goods, including agricultural products, industrial materials, coal and energy products, and consumer merchandise. Its services support industries such as manufacturing, construction, agriculture, automotive and retail, with intermodal transportation combining rail with truck and shipping services.

Union Pacific traces its history to the Pacific Railway Act of 1862 and played a central role in building the first transcontinental railroad, completed in 1869.