Skylands Capital Trims Top Holdings Heading Into Q2

Paquelet and his team have also chosen to reduce their exposure to Union Pacific Corporation (NYSE:UNP), a position held by Skylands Capital since the end of 2004. The fund now holds 661,375 shares, down by 11% over the quarter, worth roughly $52.6 million. Billionaire Ken Fisher also decided to reduce his fund’s stake in the railroad company, with Fisher Asset Management having indicated ownership of 131,453 shares in its latest 13F filing. Union Pacific Corporation (NYSE:UNP) has been recently downgraded by analysts at UBS to Neutral from the previous Buy rating, with a price target of $88 per share. Union Pacific Corporation (NYSE:UNP)’s profit for the first quarter slid by 15% on the year to $979 million, while its revenue dropped by 14% to $4.83 billion. Nevertheless, the company’s EPS of $1.16 managed to beat the estimates of $1.10, while the revenue was slightly lower than the consensus estimate of $4.90 billion.

According to its latest 13F filing, Skylands Capital’s stake in Crown Castle International Corp (NYSE:CCI) was reduced by 4% over the first quarter to 626,750 shares valued at $54.2 million. Andreas Halvorsen‘s Viking Global also holds a significant position in this stock, having reported ownership of 2.99 million shares as of the end of the 2015. Bill & Melinda Gates Foundation Trust, run by Michael Larson, held the largest stake in Crown Castle International Corp (NYSE:CCI) among the funds followed by Insider Monkey, which amounts to 5.33 million shares at the end of 2015. Crown Castle International Corp (NYSE:CCI) has recently announced the acquisition of Tower Development Corporation for $461 million in cash. Tower Development operates 336 towers in the United States and Puerto Rico, and its acquisition is expected to contribute roughly $25 to $27 million to site rental gross margin in the first full year of ownership.

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