State Board of Administration of Florida Retirement System Acquires 3,580 Shares of Saia, Inc. (SAIA)
State Board of Administration of Florida Retirement System lifted its holdings in Saia, Inc. (NASDAQ:SAIA) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,456 shares of the transportation company’s stock after purchasing an additional 3,580 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Saia worth $1,101,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SAIA. State of Alaska Department of Revenue grew its stake in shares of Saia by 78.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,022 shares of the transportation company’s stock worth $257,000 after purchasing an additional 2,212 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of Saia by 8.7% in the 1st quarter. Mason Street Advisors LLC now owns 5,949 shares of the transportation company’s stock worth $264,000 after purchasing an additional 477 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Saia by 4.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,816 shares of the transportation company’s stock worth $302,000 after purchasing an additional 306 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Saia in the 1st quarter worth approximately $332,000. Finally, Turner Investments LLC acquired a new position in shares of Saia in the 2nd quarter worth approximately $359,000. 96.98% of the stock is currently owned by institutional investors.
Saia, Inc. (SAIA) opened at 59.70 on Thursday. Saia, Inc. has a 52-week low of $27.96 and a 52-week high of $60.50. The stock has a market capitalization of $1.51 billion, a P/E ratio of 28.97 and a beta of 0.80. The stock has a 50 day moving average of $55.02 and a 200 day moving average of $49.25.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $358.20 million for the quarter, compared to the consensus estimate of $348.53 million. Saia had a net margin of 4.12% and a return on equity of 10.84%. Saia’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, equities research analysts forecast that Saia, Inc. will post $2.18 EPS for the current year.
In related news, Director Herbert A. Trucksess III sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $54.09, for a total value of $1,622,700.00. Following the sale, the director now directly owns 183,442 shares in the company, valued at approximately $9,922,377.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas Wayne Rockel sold 3,112 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $53.70, for a total transaction of $167,114.40. Following the completion of the sale, the director now owns 7,314 shares in the company, valued at $392,761.80. The disclosure for this sale can be found here. Insiders sold a total of 74,576 shares of company stock worth $4,053,452 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.
SAIA has been the topic of several recent research reports. Zacks Investment Research cut shares of Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. BidaskClub raised shares of Saia from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Stifel Nicolaus reissued a “hold” rating and issued a $48.00 target price (up from $44.00) on shares of Saia in a research report on Monday, July 31st. Cowen and Company lifted their target price on shares of Saia from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 31st. Finally, ValuEngine raised shares of Saia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Saia has an average rating of “Buy” and a consensus price target of $52.33.
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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