The Westpac Banking Corp Cuts Stake in United Continental Holdings Inc. (UAL)

The Westpac Banking Corp Cuts Stake in United Continental Holdings Inc. (UAL)

Westpac Banking Corp lowered its stake in shares of United Continental Holdings Inc. (NYSE:UAL) by 28.8% during the third quarter, Holdings Channel reports. The institutional investor owned 460,231 shares of the company’s stock after selling 186,554 shares during the period. Westpac Banking Corp’s holdings in United Continental Holdings were worth $24,148,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its stake in United Continental Holdings by 0.3% in the second quarter. Bank of Nova Scotia now owns 7,000 shares of the company’s stock valued at $287,000 after buying an additional 20 shares in the last quarter. I.G. Investment Management LTD. increased its stake in United Continental Holdings by 1.2% in the second quarter. I.G. Investment Management LTD. now owns 8,300 shares of the company’s stock valued at $341,000 after buying an additional 100 shares in the last quarter. Pacer Advisors Inc. increased its stake in United Continental Holdings by 2.1% in the second quarter. Pacer Advisors Inc. now owns 6,372 shares of the company’s stock valued at $262,000 after buying an additional 134 shares in the last quarter. Glenmede Trust Co. NA increased its stake in United Continental Holdings by 0.4% in the second quarter. Glenmede Trust Co. NA now owns 36,176 shares of the company’s stock valued at $1,484,000 after buying an additional 136 shares in the last quarter. Finally, Conning Inc. increased its stake in United Continental Holdings by 2.0% in the second quarter. Conning Inc. now owns 7,610 shares of the company’s stock valued at $312,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Shares of United Continental Holdings Inc. (NYSE:UAL) traded up 0.276% during trading on Friday, reaching $74.395. The company’s stock had a trading volume of 460,884 shares. The company has a 50 day moving average of $68.40 and a 200 day moving average of $53.51. The company has a market cap of $23.60 billion, a PE ratio of 9.496 and a beta of 0.70. United Continental Holdings Inc. has a 12-month low of $37.41 and a 12-month high of $76.80.

United Continental Holdings (NYSE:UAL) last posted its earnings results on Monday, October 17th. The company reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.23. The business earned $9.91 billion during the quarter, compared to analyst estimates of $9.89 billion. United Continental Holdings had a return on equity of 39.10% and a net margin of 7.36%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.53 EPS. On average, analysts anticipate that United Continental Holdings Inc. will post $8.23 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. Cowen and Company boosted their price objective on United Continental Holdings from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, December 9th. Standpoint Research downgraded United Continental Holdings from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Citigroup Inc. began coverage on United Continental Holdings in a report on Friday, November 18th. They set a “neutral” rating and a $69.00 price target for the company. Barclays PLC began coverage on United Continental Holdings in a report on Thursday, December 15th. They set an “overweight” rating and a $105.00 price target for the company. Finally, Imperial Capital upped their price target on United Continental Holdings from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. United Continental Holdings currently has an average rating of “Buy” and a consensus price target of $66.59.

In related news, Director Walter Isaacson sold 2,638 shares of United Continental Holdings stock in a transaction on Friday, December 9th. The stock was sold at an average price of $75.80, for a total value of $199,960.40. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $379,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chris Kenny sold 3,824 shares of United Continental Holdings stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $67.39, for a total value of $257,699.36. Following the completion of the sale, the vice president now directly owns 10,179 shares of the company’s stock, valued at approximately $685,962.81. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

About United Continental Holdings

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 an average of approximately 5,000 flights a day to over 340 airports across six continents 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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