Texas Permanent School Fund lessened its stake in shares of United Continental Holdings Inc (NASDAQ:UAL) by 5.3% in the 1st quarter, HoldingsChannel reports. The fund owned 43,589 shares of the transportation company’s stock after selling 2,445 shares during the period. Texas Permanent School Fund’s holdings in United Continental were worth $3,478,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in United Continental in the fourth quarter worth approximately $379,000. Conning Inc. raised its stake in United Continental by 7.2% in the first quarter. Conning Inc. now owns 4,010 shares of the transportation company’s stock worth $320,000 after buying an additional 270 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in United Continental by 32.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,158 shares of the transportation company’s stock worth $174,000 after buying an additional 524 shares in the last quarter. James Investment Research Inc. raised its stake in United Continental by 31.9% in the first quarter. James Investment Research Inc. now owns 31,549 shares of the transportation company’s stock worth $2,517,000 after buying an additional 7,631 shares in the last quarter. Finally, Beech Hill Advisors Inc. raised its stake in United Continental by 26.4% in the first quarter. Beech Hill Advisors Inc. now owns 4,075 shares of the transportation company’s stock worth $325,000 after buying an additional 850 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Gregory L. Hart sold 5,000 shares of United Continental stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $89.66, for a total transaction of $448,300.00. Following the sale, the chief operating officer now directly owns 22,087 shares in the company, valued at approximately $1,980,320.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.
United Continental (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, April 16th. The transportation company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.21. United Continental had a net margin of 5.43% and a return on equity of 28.41%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 6.2% on a year-over-year basis. On average, analysts predict that United Continental Holdings Inc will post 11.14 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Buckingham Research upped their price target on United Continental from $109.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Vertical Research assumed coverage on United Continental in a research report on Monday, February 4th. They set a “buy” rating and a $103.00 price target on the stock. Argus assumed coverage on United Continental in a research report on Wednesday, January 30th. They set a “buy” rating and a $101.00 price target on the stock. Macquarie set a $111.00 price target on United Continental and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research downgraded United Continental from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. United Continental presently has a consensus rating of “Buy” and a consensus target price of $101.41.
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About United Continental
United Continental Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, the Middle East, and Latin America. It transports people and cargo through its mainline and regional operations. As of December 31, 2018, the company operated a fleet of 1,329 aircraft.
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