DnB Asset Management AS Takes Position in United Continental Holdings Inc (UAL)
DnB Asset Management AS acquired a new stake in United Continental Holdings Inc (NYSE:UAL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the transportation company’s stock, valued at approximately $1,011,000.
Other large investors have also made changes to their positions in the company. California Public Employees Retirement System grew its position in United Continental by 2.1% during 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 acquiring an additional 14,899 shares during the period. Sciencast Management LP acquired a new position in shares of United Continental during the second quarter worth about $1,822,000. First Dallas Securities Inc. acquired a new position in shares of United Continental during the third quarter worth about $504,000. Point72 Asset Management L.P. acquired a new position in shares of United Continental during the third quarter worth about $28,887,000. Finally, FNY Managed Accounts LLC acquired a new position in shares of United Continental during the third quarter worth about $560,000. 95.70% of the stock is owned by institutional investors and hedge funds.
United Continental Holdings Inc (NYSE:UAL) opened at $78.40 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. United Continental Holdings Inc has a one year low of $56.51 and a one year high of $83.04. The company has a market capitalization of $23,230.00, a PE ratio of 11.35 and a beta of 1.05.
United Continental (NYSE:UAL) last released its quarterly earnings results on Wednesday, October 18th. The transportation company reported $2.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.10. United Continental had a return on equity of 25.26% and a net margin of 5.22%. The business had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.87 billion. During the same quarter in the previous year, the firm posted $3.11 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. analysts forecast that United Continental Holdings Inc will post 6.66 EPS for the current year.
United Continental declared that its board has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other United Continental news, Director Robert A. Milton purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were acquired at an average price of $58.60 per share, for a total transaction of $58,600.00. Following the completion of the purchase, the director now owns 6,176 shares in the company, valued at approximately $361,913.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.
A number of research analysts have commented on UAL shares. Buckingham Research cut United Continental from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $49.28 to $59.80 in a research note on Monday, September 18th. Raymond James Financial restated a “market perform” rating on shares of United Continental in a research note on Wednesday, September 20th. Zacks Investment Research cut United Continental from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $110.00 price objective on shares of United Continental in a research note on Wednesday, September 20th. Finally, Macquarie started coverage on United Continental in a research note on Monday, September 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $81.69.
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About United Continental
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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