5 Best Bear Market Stocks to Buy Now

4. Union Pacific Corporation (NYSE: UNP)

Number of Hedge Fund Holders: 75 

Union Pacific Corporation (NYSE: UNP) is a Nebraska-based railroad firm. It is ranked fourth on our list of 12 best bear market stocks to buy now. The company’s shares have returned 25% to investors over the past year. In earnings results for the second quarter, posted on July 22, the firm reported earnings per share of $2.72, beating market estimates by $0.17. The revenue over the period was more than $5.5 billion, up close toi 30% from the revenue over the same period last year and beating estimates by $110 million. 

On July 6, investment advisory Loop Capital upgraded Union Pacific Corporation (NYSE: UNP) stock to Buy from Hold with a price target of $269. Rick Paterson, an analyst at the firm, issued the ratings update. 

At the end of the first quarter of 2021, 75 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in Union Pacific Corporation (NYSE: UNP), up from 68 in the preceding quarter worth $3.5 billion.

In its Q1 2021 investor letter, Vltava Fund, an asset management firm, highlighted a few stocks and Union Pacific Corporation (NYSE: UNP) was one of them. Here is what the fund said:

“There was a slight change in Vltava Fund’s portfolio in the first quarter. We sold shares of Union Pacific. It was one of three stocks we bought a year ago at the market bottom. Although from a P/E viewpoint this was one of our most expensive purchases ever, the shares worked out quite well, and, when they were more than 90% higher at the beginning of this year, we decided to take profit and put the money into stocks with more attractive valuations.”