Teachers Retirement System of The State of Kentucky decreased its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 36.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,809 shares of the transportation company’s stock after selling 2,736 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Saia were worth $1,145,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SAIA. JPMorgan Chase & Co. lifted its holdings in Saia by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 881,258 shares of the transportation company’s stock valued at $184,614,000 after acquiring an additional 4,198 shares during the last quarter. Brookfield Asset Management Inc. purchased a new position in shares of Saia during the second quarter worth $2,069,000. BlackRock Inc. boosted its holdings in Saia by 2.6% in the second quarter. BlackRock Inc. now owns 4,162,968 shares of the transportation company’s stock valued at $872,101,000 after purchasing an additional 106,599 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Saia by 77.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the transportation company’s stock valued at $1,963,000 after purchasing an additional 4,094 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Saia by 18.8% in the third quarter. New York State Common Retirement Fund now owns 68,303 shares of the transportation company’s stock valued at $16,258,000 after purchasing an additional 10,818 shares during the period.
A number of research analysts recently issued reports on SAIA shares. Susquehanna Bancshares began coverage on Saia in a report on Thursday, December 9th. They issued a “positive” rating and a $400.00 target price for the company. Susquehanna assumed coverage on Saia in a research report on Thursday, December 9th. They set a “positive” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Saia from a “buy” rating to a “hold” rating and cut their target price for the stock from $366.00 to $363.00 in a research report on Monday, November 29th. They noted that the move was a valuation call. Wells Fargo & Company boosted their price target on Saia from $280.00 to $336.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. Finally, Truist Securities boosted their price target on Saia from $255.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $315.25.
Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Thursday, October 28th. The transportation company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.35 by $0.51. The company had revenue of $616.20 million during the quarter, compared to analysts’ expectations of $576.83 million. Saia had a return on equity of 20.78% and a net margin of 10.23%. The firm’s revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 EPS. On average, equities analysts predict that Saia, Inc. will post 9.13 EPS for the current year.
In related news, VP Raymond R. Ramu sold 1,010 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $343.27, for a total transaction of $346,702.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick J. Holzgrefe III sold 1,181 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $336.50, for a total value of $397,406.50. The disclosure for this sale can be found here. Insiders sold a total of 2,591 shares of company stock valued at $884,873 in the last 90 days. 0.30% of the stock is owned by company insiders.
Saia Company Profile
Saia, Inc operates as a transportation holding company. The firm through its wholly-owned subsidiaries provides regional and interregional less-than-truckload (LTL) services through a single integrated organization. The firm also offers other value-added services, including non-asset truckload, expedited and logistics services across North America.
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