Congress Asset Management Co. Reduces Position in Saia, Inc. (NASDAQ:SAIA)

Congress Asset Management Co. decreased its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 251,550 shares of the transportation company’s stock after selling 22,672 shares during the quarter. Congress Asset Management Co.’s holdings in Saia were worth $114,639,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in Saia by 33.8% during the fourth quarter. Van ECK Associates Corp now owns 23,161 shares of the transportation company’s stock worth $10,555,000 after buying an additional 5,845 shares in the last quarter. Legato Capital Management LLC grew its position in shares of Saia by 100.6% in the fourth quarter. Legato Capital Management LLC now owns 1,565 shares of the transportation company’s stock valued at $713,000 after purchasing an additional 785 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Saia by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,803 shares of the transportation company’s stock valued at $116,670,000 after purchasing an additional 11,177 shares during the period. Stephens Inc. AR grew its position in shares of Saia by 15.5% in the fourth quarter. Stephens Inc. AR now owns 1,490 shares of the transportation company’s stock valued at $679,000 after purchasing an additional 200 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new stake in shares of Saia in the fourth quarter valued at $45,767,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SAIA. JPMorgan Chase & Co. lowered their price objective on Saia from $566.00 to $558.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Susquehanna lifted their price objective on Saia from $530.00 to $540.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Raymond James lowered their price objective on Saia from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. BMO Capital Markets lifted their price objective on Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a research report on Monday, October 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of Saia in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $535.41.

Insider Buying and Selling

In related news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the transaction, the executive vice president now owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. This represents a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $487.34, for a total value of $3,671,619.56. Following the completion of the transaction, the chief executive officer now directly owns 17,645 shares of the company’s stock, valued at $8,599,114.30. This represents a 29.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,453 shares of company stock worth $4,693,318. 0.30% of the stock is currently owned by corporate insiders.

Saia Trading Up 1.1 %

Shares of SAIA opened at $487.53 on Friday. The stock’s 50-day moving average is $486.16 and its two-hundred day moving average is $464.00. The stock has a market cap of $12.96 billion, a PE ratio of 36.09, a P/E/G ratio of 2.51 and a beta of 1.79. Saia, Inc. has a 12 month low of $358.90 and a 12 month high of $628.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26.

Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.33 EPS. Equities analysts forecast that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Saia 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.