Texas Permanent School Fund Corp Cuts Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Texas Permanent School Fund Corp cut its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 19.9% during the second quarter, Holdings Channel reports. The firm owned 54,225 shares of the transportation company’s stock after selling 13,494 shares during the quarter. Texas Permanent School Fund Corp’s holdings in United Airlines were worth $2,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Interval Partners LP purchased a new position in United Airlines in the first quarter worth approximately $103,354,000. Norges Bank purchased a new stake in shares of United Airlines during the 4th quarter worth $41,114,000. Senator Investment Group LP acquired a new position in shares of United Airlines during the first quarter worth $35,910,000. Canada Pension Plan Investment Board increased its holdings in United Airlines by 452.0% in the first quarter. Canada Pension Plan Investment Board now owns 713,800 shares of the transportation company’s stock valued at $34,177,000 after buying an additional 584,500 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in United Airlines by 751.5% in the first quarter. Retirement Systems of Alabama now owns 615,478 shares of the transportation company’s stock valued at $29,469,000 after buying an additional 543,195 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on UAL shares. TD Cowen increased their price objective on United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup raised their price objective on shares of United Airlines from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Redburn Atlantic upgraded shares of United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, June 6th. Finally, Jefferies Financial Group upgraded shares of United Airlines from a “hold” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $65.00 in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.68.

United Airlines Trading Up 2.2 %

NASDAQ UAL opened at $51.34 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.71 and a current ratio of 0.77. The firm has a market cap of $16.88 billion, a PE ratio of 6.35, a P/E/G ratio of 1.04 and a beta of 1.43. United Airlines Holdings, Inc. has a one year low of $33.68 and a one year high of $56.17. The firm’s fifty day moving average is $44.47 and its two-hundred day moving average is $47.33.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings data on Wednesday, July 17th. The transportation company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $0.17. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The company had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.04 billion. During the same period in the previous year, the business posted $5.03 earnings per share. United Airlines’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that United Airlines Holdings, Inc. will post 9.73 earnings per share for the current year.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.