Truist Financial Corp Decreases Holdings in Saia, Inc. $SAIA

Key Points

• Truist Financial Corp reduced its stake in Saia by 12.1% in the fourth quarter, selling 4,237 shares and ending with 30,807 shares valued at about $10.1 million.
• Wall Street sentiment on Saia is mixed: the stock has a consensus Hold rating with a $444.94 target price, even as several firms recently raised targets and maintained bullish ratings.
• Saia reported quarterly EPS of $1.86, topping estimates, and revenue of $806.23 million above expectations, while shares recently traded near their 52-week high at $449.80.

Truist Financial Corp cut its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,807 shares of the transportation company's stock after selling 4,237 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Saia worth $10,059,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new position in shares of Saia in the 3rd quarter valued at about $30,000. Torren Management LLC bought a new stake in shares of Saia during the fourth quarter valued at approximately $40,000. Allworth Financial LP raised its stake in Saia by 69.0% in the third quarter. Allworth Financial LP now owns 142 shares of the transportation company's stock worth $43,000 after buying an additional 58 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Saia by 46.9% during the fourth quarter. Farther Finance Advisors LLC now owns 144 shares of the transportation company's stock worth $47,000 after purchasing an additional 46 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Saia by 6,400.0% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 195 shares of the transportation company's stock worth $58,000 after purchasing an additional 192 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SAIA. Citigroup increased their price target on Saia from $428.00 to $516.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group reiterated a "buy" rating and issued a $493.00 price objective on shares of Saia in a report on Wednesday, February 11th. Raymond James Financial restated an "outperform" rating and set a $477.00 price target on shares of Saia in a report on Friday, May 1st. Morgan Stanley reaffirmed an "underweight" rating and set a $265.00 price objective on shares of Saia in a research report on Friday, May 1st. Finally, Bank of America raised their price target on shares of Saia from $413.00 to $429.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $444.94.

Insider Buying and Selling

In other news, CEO Frederick J. Holzgrefe III sold 4,775 shares of Saia stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $388.80, for a total value of $1,856,520.00. Following the sale, the chief executive officer owned 22,743 shares of the company's stock, valued at $8,842,478.40. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kelly W. Benton sold 800 shares of Saia stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $389.00, for a total transaction of $311,200.00. Following the completion of the sale, the chief accounting officer directly owned 3,157 shares in the company, valued at approximately $1,228,073. The trade was a 20.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,533 shares of company stock valued at $6,015,055 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Saia Price Performance

Shares of SAIA opened at $449.80 on Friday. Saia, Inc. has a 1-year low of $248.37 and a 1-year high of $460.05. The stock has a market cap of $12.00 billion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 2.15 and a beta of 2.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a fifty day moving average price of $384.48 and a 200 day moving average price of $349.82.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. The firm had revenue of $806.23 million during the quarter, compared to analysts' expectations of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. Saia's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. As a group, sell-side analysts anticipate that Saia, Inc. will post 11.36 EPS for the current year.

Saia Company Profile

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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