Municipal Employees Retirement System of Michigan Reduces Stake in United Continental Holdings, Inc. (UAL)

Municipal Employees Retirement System of Michigan decreased its position in United Continental Holdings, Inc. (NYSE:UAL) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,610 shares of the transportation company’s stock after selling 2,750 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in United Continental were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in UAL. Janney Montgomery Scott LLC boosted its stake in United Continental by 15.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,117 shares of the transportation company’s stock worth $1,288,000 after purchasing an additional 2,281 shares in the last quarter. Eagle Global Advisors LLC bought a new position in United Continental in the 2nd quarter worth about $264,000. Great West Life Assurance Co. Can boosted its stake in United Continental by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 94,270 shares of the transportation company’s stock worth $7,089,000 after purchasing an additional 3,782 shares in the last quarter. CIBC Asset Management Inc boosted its stake in United Continental by 0.7% in the 2nd quarter. CIBC Asset Management Inc now owns 31,008 shares of the transportation company’s stock worth $2,333,000 after purchasing an additional 204 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in United Continental by 2.4% during the 2nd quarter. Bessemer Group Inc. now owns 27,471 shares of the transportation company’s stock valued at $2,067,000 after acquiring an additional 632 shares during the period. Institutional investors own 95.92% of the company’s stock.

Several equities analysts have issued reports on the stock. Sanford C. Bernstein restated a “hold” rating on shares of United Continental in a research note on Monday, August 7th. Citigroup upped their target price on shares of United Continental from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Cowen restated a “market perform” rating and set a $70.00 target price (up previously from $63.00) on shares of United Continental in a research note on Thursday, October 12th. Morgan Stanley lowered their target price on shares of United Continental from $79.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th. Finally, Wolfe Research upgraded shares of United Continental to an “outperform” rating and lowered their target price for the company from $97.00 to $95.00 in a research note on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. United Continental has an average rating of “Hold” and an average price target of $77.63.

In other news, Director Robert A. Milton bought 1,000 shares of United Continental stock in a transaction that occurred on Tuesday, October 24th. The stock was bought at an average cost of $58.60 per share, with a total value of $58,600.00. Following the acquisition, the director now owns 6,176 shares of the company’s stock, valued at approximately $361,913.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Shapiro bought 15,000 shares of United Continental stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $59.87 per share, with a total value of $898,050.00. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $1,658,818.09. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.

United Continental Holdings, Inc. (NYSE:UAL) traded down $0.75 during midday trading on Monday, hitting $62.57. 4,461,800 shares of the stock traded hands, compared to its average volume of 4,381,101. United Continental Holdings, Inc. has a 12-month low of $56.51 and a 12-month high of $83.04. The stock has a market cap of $18,536.51, a price-to-earnings ratio of 8.75, a P/E/G ratio of 1.61 and a beta of 1.04. 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 (NYSE:UAL) last released its quarterly earnings results on Wednesday, October 18th. The transportation company reported $2.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.10. United Continental had a net margin of 5.22% and a return on equity of 25.26%. The firm had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.87 billion. During the same quarter in the prior year, the firm earned $3.11 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. analysts forecast that United Continental Holdings, Inc. will post 6.31 EPS for the current fiscal year.

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United Continental 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.

Institutional Ownership by Quarter for United Continental (NYSE:UAL)

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