Resonant Capital Advisors Increases Stake in Union Pacific by 22%

Resonant Capital Advisors LLC has boosted its holdings in Union Pacific Corporation (NYSE: UNP) by 22% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The investment firm acquired an additional 450 shares, bringing its total ownership to 2,491 shares, valued at approximately $573,000.

Several other prominent investors have also made adjustments to their positions in Union Pacific. Envestnet Portfolio Solutions Inc. increased its stake by 10.6%, owning a total of 93,337 shares worth $21.5 million after adding 8,925 shares. Similarly, LGT Group Foundation boosted its holdings by 9.7% in the first quarter, now owning 5,398 shares valued at $1.3 million. Nuveen LLC entered the fray by purchasing a new stake valued at approximately $988.8 million. Other notable stakeholders include SlateStone Wealth LLC, which increased its position by 6.2%, and Meadow Creek Wealth Advisors LLC, which raised its stake by 10.9%.

Currently, institutional investors control 80.38% of Union Pacific’s stock, reflecting significant confidence in the railroad operator’s future.

Market Performance and Analyst Ratings

On Monday, Union Pacific’s shares opened at $216.56, a decrease of 1.6%. The company has a market capitalization of $128.44 billion and displays a P/E ratio of 18.40. Over the past year, shares have fluctuated between a low of $204.66 and a high of $256.84.

Analysts have recently updated their ratings for Union Pacific. Argus downgraded the stock from a “buy” to a “hold” rating on August 12, while Loop Capital upgraded it from “sell” to “hold” and raised the price target from $214.00 to $227.00. Jefferies Financial Group made a significant shift, elevating its rating from “hold” to “buy” and increasing the target price from $250.00 to $285.00. BMO Capital Markets reduced its price target slightly from $277.00 to $275.00, maintaining an “outperform” rating. Morgan Stanley adjusted its price objective down from $220.00 to $215.00 while keeping an “equal weight” rating.

The consensus among analysts indicates a “Moderate Buy” rating for Union Pacific, with a target price averaging $261.63.

About Union Pacific Corporation

Union Pacific Corporation operates through its subsidiary, Union Pacific Railroad Company, providing essential transportation services across the United States. The company specializes in the shipment of various goods, including grain, fertilizers, food products, and coal, serving a diverse clientele ranging from agricultural users to industrial manufacturers.

As Union Pacific continues to adapt to market dynamics and investor interest, the recent adjustments in holdings by major financial firms signal a robust outlook for the railroad company’s future. For more detailed insights into Union Pacific and its performance, investors can access updated reports and analysis through platforms like MarketBeat.