Principal Financial Group Inc. Cuts Position in Saia, Inc. (SAIA)
Principal Financial Group Inc. trimmed its position in Saia, Inc. (NASDAQ:SAIA) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,844 shares of the transportation company’s stock after selling 2,464 shares during the period. Principal Financial Group Inc. owned 0.78% of Saia worth $12,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in Saia by 4,376.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,880 shares of the transportation company’s stock worth $117,000 after purchasing an additional 1,838 shares during the period. Flinton Capital Management LLC grew its position in Saia by 69.8% during the 2nd quarter. Flinton Capital Management LLC now owns 2,482 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,020 shares during the period. Riverhead Capital Management LLC grew its position in Saia by 68.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,531 shares of the transportation company’s stock worth $130,000 after purchasing an additional 1,031 shares during the period. 1st Global Advisors Inc. acquired a new stake in Saia during the 2nd quarter worth about $200,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Saia during the 2nd quarter worth about $205,000. 99.89% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on SAIA shares. ValuEngine raised Saia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Morgan Stanley increased their price target on Saia from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price target on shares of Saia in a research report on Thursday, September 21st. Zacks Investment Research downgraded Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, Cowen reaffirmed a “hold” rating and set a $55.00 price target on shares of Saia in a research report on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.33.
In other news, VP Frederick J. Holzgrefe III sold 1,322 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.53, for a total transaction of $85,308.66. Following the sale, the vice president now directly owns 31,668 shares in the company, valued at approximately $2,043,536.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Raymond R. Ramu sold 7,293 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $65.00, for a total value of $474,045.00. Following the sale, the vice president now owns 20,996 shares in the company, valued at $1,364,740. The disclosure for this sale can be found here. Insiders have sold a total of 53,405 shares of company stock worth $3,451,982 over the last 90 days. Insiders own 1.50% of the company’s stock.
Saia, Inc. (NASDAQ SAIA) traded up $0.30 during trading hours on Friday, hitting $65.80. The stock had a trading volume of 215,300 shares, compared to its average volume of 177,964. Saia, Inc. has a 52-week low of $41.28 and a 52-week high of $67.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $1,636.48, a PE ratio of 31.01 and a beta of 0.93.
Saia (NASDAQ:SAIA) last posted its earnings results on Friday, October 27th. The transportation company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01). Saia had a net margin of 4.05% and a return on equity of 10.61%. The business had revenue of $350.06 million for the quarter, compared to analyst estimates of $344.46 million. During the same quarter last year, the business earned $0.54 earnings per share. Saia’s revenue was up 10.6% on a year-over-year basis. equities research analysts expect that Saia, Inc. will post 2.16 earnings per share for the current year.
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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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