State Board of Administration of Florida Retirement System reduced its stake in Saia, Inc. (NASDAQ:SAIA) by 21.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,876 shares of the transportation company’s stock after selling 4,918 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Saia were worth $792,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allianz Asset Management AG bought a new stake in Saia during the fourth quarter valued at approximately $1,328,000. Russell Investments Group Ltd. bought a new stake in Saia during the fourth quarter valued at approximately $1,984,000. State Street Corp raised its stake in Saia by 12.1% in the fourth quarter. State Street Corp now owns 606,748 shares of the transportation company’s stock valued at $26,786,000 after buying an additional 65,626 shares in the last quarter. Norges Bank bought a new stake in Saia during the fourth quarter valued at approximately $17,227,000. Finally, FMR LLC raised its stake in Saia by 20.5% in the fourth quarter. FMR LLC now owns 882,082 shares of the transportation company’s stock valued at $38,944,000 after buying an additional 150,116 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Institutional Ownership by Quarter for Saia (NASDAQ:SAIA)

Saia, Inc. (SAIA) opened at 49.45 on Tuesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 26.18 and a beta of 0.77. Saia, Inc. has a 52 week low of $23.27 and a 52 week high of $52.35. The stock’s 50 day moving average price is $46.70 and its 200 day moving average price is $46.28.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, April 28th. The transportation company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. Saia had a return on equity of 10.27% and a net margin of 3.92%. The firm had revenue of $317 million for the quarter, compared to analyst estimates of $306.80 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Saia’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Saia, Inc. will post $2.13 EPS for the current year.

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SAIA has been the topic of several recent research reports. Zacks Investment Research lowered Saia from a “hold” rating to a “sell” rating in a research report on Thursday, April 6th. Cowen and Company upped their target price on Saia from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Saia has an average rating of “Buy” and an average target price of $52.20.

About Saia

Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.

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