Allspring Union Pacific stake jumps 126% in SEC filing

Allspring Union Pacific stake moved higher in the third quarter after Allspring Global Investments Holdings LLC increased its position in Union Pacific Corporation (NYSE: UNP).

This is reported by the railway transport news portal Railway Supply.

As highlighted in a MarketBeat filing alert, the fund said it purchased an additional 106,095 shares, bringing its total to 190,103 shares valued at about $44,625,000 at quarter-end.

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Allspring Union Pacific stake in the latest SEC filing

In the SEC filing, Allspring Global Investments Holdings LLC reported a 126.3% increase in its Union Pacific holdings during the quarter. Union Pacific is a major U.S. freight railroad operator, and the disclosure places Allspring among the institutional investors and hedge funds that together own 80.38% of the company’s stock.

Institutional ownership changes and Union Pacific stock metrics

Other large investors also adjusted their Union Pacific exposure. State of Wyoming expanded its stake by 51.8% in the first quarter to 390 shares worth about $92,000 after adding 133 shares. Aprio Wealth Management LLC increased its position by 49.9% to 1,629 shares valued at roughly $385,000 after purchasing 542 shares.

AQR Capital Management LLC lifted its stake by 2.2% to 189,976 shares worth $44,382,000, following the purchase of 4,090 shares. Alliancebernstein L.P. raised its position by 35.5% to 1,422,762 shares valued at $336,113,000 after buying 372,435 shares, while Banque Transatlantique SA opened a new first-quarter position worth around $225,000.

On Friday, Union Pacific stock was down 0.7% at the open, starting the session at $231.33. The shares have traded between $204.66 and $256.84 over the past 52 weeks. Union Pacific reported a quick ratio of 0.60, a current ratio of 0.75, and a debt-to-equity ratio of 1.75; the company’s market cap stands at $137.22 billion.

The stock carries a P/E ratio of 19.65, a P/E/G ratio of 2.69, and a beta of 0.99. Its 50-day moving average price is $228.33, and its 200-day moving average price is $226.91.

Earnings results, dividend, and analyst price targets

Union Pacific (NYSE: UNP) reported quarterly earnings on Thursday, October 23rd. The company posted earnings per share (EPS) of $3.08, ahead of the consensus estimate of $2.99 by $0.09. Revenue was $6.24 billion for the quarter, in line with expectations of $6.24 billion.

Profitability metrics included a 42.23% return on equity and a 28.73% net margin. Revenue increased 2.5% versus the same quarter a year earlier, when Union Pacific reported $2.75 in earnings per share. Analysts expect Union Pacific Corporation to post 11.99 earnings per share for the current year.

Union Pacific also declared a quarterly dividend that was paid on Tuesday, December 30th. Shareholders of record on Friday, December 5th received $1.38 per share—$5.52 on an annualized basis—implying a dividend yield of about 2.4% (Union Pacific). The ex-dividend date was Friday, December 5th, and Union Pacific’s payout ratio is 46.90%.

Several analyst updates have also been published. Deutsche Bank Aktiengesellschaft set a $245.00 price objective on Thursday, December 11th. Barclays reiterated an “overweight” rating and raised its price target to $285.00 from $270.00 on Tuesday, December 16th, while Susquehanna reaffirmed a “positive” rating on Thursday, September 25th and increased its price objective from $257.00 to $272.00.

Cowen restated a “buy” rating on Friday, October 24th. JPMorgan Chase & Co. raised its price target from $265.00 to $267.00 on Friday, October 24th and maintained a “neutral” rating. In total, one analyst rates the stock a Strong Buy, sixteen rate it a Buy, and eleven rate it a Hold; MarketBeat data lists a consensus rating of “Moderate Buy” and a consensus price target of $260.33.

Union Pacific Corporation is one of the largest freight railroad companies in the United States. Its principal operating unit, Union Pacific Railroad, traces its history to the Pacific Railway Act of 1862 and the first transcontinental rail link completed in 1869. Headquartered in Omaha, Nebraska, the company operates as a holding company for rail transportation and related services, with a core network serving the western two-thirds of the United States (Railway Supply).

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