Truist Financial Corp Reduces Stock Holdings in Saia, Inc. (NASDAQ:SAIA)

Truist Financial Corp reduced its holdings in Saia, Inc. (NASDAQ:SAIA) by 6.1% during the 4th quarter, Holdings Channel reports. The fund owned 16,252 shares of the transportation company’s stock after selling 1,062 shares during the period. Truist Financial Corp’s holdings in Saia were worth $7,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC boosted its holdings in Saia by 1.3% during the fourth quarter. Yousif Capital Management LLC now owns 12,565 shares of the transportation company’s stock worth $5,506,000 after buying an additional 165 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Saia during the fourth quarter worth $43,000. Jennison Associates LLC boosted its holdings in Saia by 65.9% during the fourth quarter. Jennison Associates LLC now owns 211,673 shares of the transportation company’s stock worth $92,759,000 after buying an additional 84,046 shares in the last quarter. Signaturefd LLC boosted its holdings in Saia by 18.8% during the fourth quarter. Signaturefd LLC now owns 228 shares of the transportation company’s stock worth $100,000 after buying an additional 36 shares in the last quarter. Finally, Hunter Associates Investment Management LLC raised its position in Saia by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 4,027 shares of the transportation company’s stock worth $1,773,000 after acquiring an additional 61 shares during the period.

Saia Trading Down 1.4 %

Shares of SAIA opened at $400.08 on Friday. The company has a current ratio of 1.23, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. Saia, Inc. has a 12-month low of $266.91 and a 12-month high of $628.34. The firm has a 50-day moving average price of $554.03 and a 200 day moving average price of $478.81. The firm has a market capitalization of $10.64 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.28 and a beta of 1.71.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.05). The company had revenue of $754.80 million for the quarter, compared to analysts’ expectations of $772.36 million. Saia had a return on equity of 19.53% and a net margin of 12.42%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $2.85 EPS. Sell-side analysts forecast that Saia, Inc. will post 15.38 EPS for the current year.

Insiders Place Their Bets

In other Saia news, CEO Frederick J. Holzgrefe III sold 7,500 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $533.46, for a total transaction of $4,000,950.00. Following the completion of the transaction, the chief executive officer now owns 14,248 shares of the company’s stock, valued at $7,600,738.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Douglas L. Col sold 1,743 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $536.92, for a total value of $935,851.56. Following the completion of the transaction, the chief financial officer now owns 6,854 shares of the company’s stock, valued at $3,680,049.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frederick J. Holzgrefe III sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $533.46, for a total transaction of $4,000,950.00. Following the completion of the transaction, the chief executive officer now directly owns 14,248 shares of the company’s stock, valued at approximately $7,600,738.08. The disclosure for this sale can be found here. Insiders sold a total of 27,699 shares of company stock valued at $14,966,813 over the last 90 days. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SAIA has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Saia from $504.00 to $567.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. UBS Group reduced their price objective on shares of Saia from $618.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Wolfe Research cut shares of Saia from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 11th. Bank of America reduced their price objective on shares of Saia from $645.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, StockNews.com cut shares of Saia from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $497.22.

Saia Company Profile

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.