ZWJ Investment Counsel Inc. Cuts Stake in Saia, Inc. $SAIA

Key Points

• ZWJ Investment Counsel cut its stake in Saia by 10.9% in Q4, selling 12,585 shares and now holds 102,548 shares worth about $33.48 million.
• Company insiders have been net sellers — VP Raymond Ramu and EVP Patrick Sugar sold shares on Feb. 13, and insiders disposed of 15,533 shares valued at roughly $6.02 million over the last 90 days, leaving insiders with about 0.30% ownership.
• Analysts are split: the consensus rating is "Hold" with an average target of $379.47, while individual targets range from Morgan Stanley's $250 (downgrade to underweight) to Evercore's $435.

ZWJ Investment Counsel Inc. lowered its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,548 shares of the transportation company's stock after selling 12,585 shares during the period. ZWJ Investment Counsel Inc. owned about 0.38% of Saia worth $33,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SAIA. Wilson Asset Management International PTY Ltd. purchased a new stake in Saia during the 3rd quarter worth approximately $1,538,000. Lincoln Capital Corp acquired a new position in Saia in the 4th quarter valued at $1,371,000. Stephens Investment Management Group LLC raised its stake in Saia by 3.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 117,946 shares of the transportation company's stock valued at $35,308,000 after purchasing an additional 4,155 shares during the last quarter. Voya Investment Management LLC raised its stake in Saia by 35.1% in the 3rd quarter. Voya Investment Management LLC now owns 220,456 shares of the transportation company's stock valued at $65,996,000 after purchasing an additional 57,307 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Saia by 31.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 227,908 shares of the transportation company's stock valued at $68,227,000 after purchasing an additional 54,813 shares during the last quarter.

Insider Activity at Saia

In related news, VP Raymond R. Ramu sold 5,226 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $387.95, for a total transaction of $2,027,426.70. Following the completion of the sale, the vice president directly owned 3,631 shares of the company's stock, valued at approximately $1,408,646.45. This trade represents a 59.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick D. Sugar sold 2,706 shares of the business's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $386.74, for a total transaction of $1,046,518.44. Following the completion of the sale, the executive vice president owned 9,121 shares in the company, valued at approximately $3,527,455.54. This trade represents a 22.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,533 shares of company stock valued at $6,015,055 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore set a $435.00 target price on shares of Saia in a research report on Wednesday, February 11th. Susquehanna downgraded shares of Saia from a "positive" rating to a "neutral" rating and increased their price objective for the company from $390.00 to $425.00 in a report on Wednesday, February 11th. Morgan Stanley downgraded shares of Saia from an "equal weight" rating to an "underweight" rating and set a $250.00 price objective for the company. in a report on Tuesday, February 10th. Stifel Nicolaus set a $352.00 price target on Saia in a report on Tuesday, March 10th. Finally, Bank of America increased their price target on Saia from $413.00 to $429.00 and gave the company a "neutral" rating in a report on Tuesday, March 3rd. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $379.47.

Saia Price Performance

Saia stock opened at $404.47 on Wednesday. Saia, Inc. has a 12-month low of $229.12 and a 12-month high of $430.11. The stock has a market cap of $10.79 billion, a P/E ratio of 42.49, a PEG ratio of 2.14 and a beta of 2.04. The company has a 50-day moving average price of $372.48 and a 200 day moving average price of $335.67. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.06.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.13). The firm had revenue of $789.95 million for the quarter, compared to analyst estimates of $773.82 million. Saia had a return on equity of 9.86% and a net margin of 7.89%.The firm's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.84 EPS. Sell-side analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current year.

About Saia

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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