UNION PACIFIC CORP
At today's price, UNION PACIFIC CORP (UNP) is priced for +9.9% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Union Pacific runs the largest railroad network in the western United States, a business so hard to replicate that it earns a 40% operating margin and a return on equity near 37%, with the operating ratio improving to an adjusted 59.9% in Q1 2026. [Source: UNP Q1 2026 earnings release, April 2026] • The defining event is the proposed $85 billion merger with Norfolk Southern to create the first transcontinental US railroad; the Surface Transportation Board accepted the revised application on Ma
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2,710 institutional managers reported holding UNP in 13F filings for the quarter ended 2026-03-31. Together they hold about 84% of the company; the top 10 hold 41%. 165 opened new positions that quarter. Held by Vanguard Group, BlackRock, Capital Group (American Funds), among others. On the short side, 29.5M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (11.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UNP has cut its share count 9.9% over the past five years, spending $14.40B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 9 years straight; the current rate is $5.44 a share annually. Cash returned over the past three years: $8.86B in dividends and $4.21B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at UNP over the trailing three years. Absence is a fact about the company, not a signal. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
UNP's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-27 | +7.7% | -12.1% |
| 2023-10-20 | +2.6% | +15.3% |
| 2024-02-10 | -0.8% | -6.0% |
| 2024-04-26 | +4.7% | -6.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
UNP's latest 8-K filings: 2026-05-18 (items 5.07); 2026-04-23 (items 2.02, 9.01); 2026-01-27 (items 2.02, 9.01); 2025-12-19 (items 7.01, 9.01); 2025-12-12 (items 5.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: July 3, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.