US Bancorp DE Sells 3,806 Shares of United Continental Holdings Inc (UAL)
US Bancorp DE cut its holdings in United Continental Holdings Inc (NYSE:UAL) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,913 shares of the transportation company’s stock after selling 3,806 shares during the quarter. US Bancorp DE’s holdings in United Continental were worth $1,073,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. California Public Employees Retirement System increased its stake in United Continental by 2.1% in the third quarter. California Public Employees Retirement System now owns 722,299 shares of the transportation company’s stock valued at $43,974,000 after purchasing an additional 14,899 shares during the period. First Dallas Securities Inc. acquired a new position in United Continental in the third quarter valued at $504,000. Point72 Asset Management L.P. acquired a new position in United Continental in the third quarter valued at $28,887,000. FNY Managed Accounts LLC acquired a new position in United Continental in the third quarter valued at $560,000. Finally, Canada Pension Plan Investment Board increased its stake in United Continental by 78.5% in the third quarter. Canada Pension Plan Investment Board now owns 766,432 shares of the transportation company’s stock valued at $46,660,000 after purchasing an additional 337,000 shares during the period. Institutional investors own 97.22% of the company’s stock.
A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of United Continental from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Bank of America lifted their price objective on shares of United Continental from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Buckingham Research boosted their price target on shares of United Continental from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Evercore ISI lowered shares of United Continental from an “outperform” rating to an “in-line” rating in a research note on Wednesday, January 24th. Finally, Imperial Capital boosted their price target on shares of United Continental from $64.00 to $74.00 and gave the stock a “line” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. United Continental has a consensus rating of “Hold” and a consensus target price of $83.03.
United Continental (NYSE:UAL) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.45. United Continental had a net margin of 5.65% and a return on equity of 23.40%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities analysts anticipate that United Continental Holdings Inc will post 7.55 EPS for the current fiscal year.
United Continental announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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United Continental Company Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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