5 Best Large-Cap Stocks to Buy in 2024

3. Union Pacific Corp (NYSE:UNP)

Number of Hedge Fund Investors: 90

Citi believes railroad company Union Pacific Corp (NYSE:UNP) is one of the top large-cap stocks to buy in 2024. Citi expects Union Pacific Corp’s (NYSE:UNP) EPS to total $11.60 in 2024, while the stock’s PE ratio is expected to be at 20.4.

Last month Union Pacific Corp (NYSE:UNP) posted fourth quarter results. GAAP EPS in the fourth quarter came in at $2.71, beating estimates by $0.15. Revenue came in at $6.16 billion, beating estimates by $110 million.

Cooper Investors made the following comment about Union Pacific Corporation (NYSE:UNP) in its Q3 2023 investor letter:

“The major focus in Texas was spending a day visiting operations of Union Pacific Corporation (NYSE:UNP), a Stalwart investment made earlier this year.

Our investigations into the railroad industry have felt like a history lesson of the late 19th Century, a peek into the Gilded Age. At this time railroads became a transformative force that connected the East Coast to the Western frontier, pushing the economic potential of US industry and commerce to new heights. Over a century later and despite technological upheaval, the freight railroads of North America still feel just as relevant and a key part of the new industrial age.

To own, operate and invest in a railroad is to be a part of the lifeblood of North America. It is to witness the movement of grain, concrete, steel, wood, energy, autos, and shipping containers across vast distances. These are irreplaceable assets that could not be built today, and for the most part have very few substitutes – UNPs tagline “Building America” certainly rings true…” (Click here to read the full text)