Bank of Montreal Can Sells 13,075 Shares of Saia, Inc. (NASDAQ:SAIA)

Posted by Defense World Staff on Apr 29th, 2023

Bank of Montreal Can decreased its holdings in Saia, Inc. (NASDAQ:SAIA – Get Rating) by 76.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,933 shares of the transportation company’s stock after selling 13,075 shares during the period. Bank of Montreal Can’s holdings in Saia were worth $852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SAIA. HighTower Advisors LLC bought a new stake in shares of Saia in the 1st quarter worth $422,000. Rhumbline Advisers grew its holdings in shares of Saia by 2.9% in the first quarter. Rhumbline Advisers now owns 74,474 shares of the transportation company’s stock worth $18,158,000 after acquiring an additional 2,083 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Saia by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,652 shares of the transportation company’s stock worth $2,353,000 after acquiring an additional 920 shares during the period. APG Asset Management N.V. grew its holdings in shares of Saia by 56.9% in the first quarter. APG Asset Management N.V. now owns 8,000 shares of the transportation company’s stock worth $1,753,000 after acquiring an additional 2,900 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Saia by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 14,397 shares of the transportation company’s stock worth $3,608,000 after acquiring an additional 994 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Saia from $232.00 to $262.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Cowen lifted their price objective on Saia from $229.00 to $283.00 and gave the stock a “market perform” rating in a report on Monday, February 6th. Wells Fargo & Company lifted their target price on Saia from $242.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, February 6th. Bank of America upgraded Saia from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Benchmark reiterated a “buy” rating and set a $320.00 target price on shares of Saia in a research report on Thursday, March 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $286.25.

Insider Transactions at Saia

In other Saia news, CEO Frederick J. Holzgrefe III sold 6,761 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $295.22, for a total transaction of $1,995,982.42. Following the sale, the chief executive officer now directly owns 9,267 shares of the company’s stock, valued at $2,735,803.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Saia news, CFO Douglas L. Col sold 3,776 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $278.57, for a total transaction of $1,051,880.32. Following the sale, the chief financial officer now directly owns 7,055 shares of the company’s stock, valued at $1,965,311.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick J. Holzgrefe III sold 6,761 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $295.22, for a total value of $1,995,982.42. Following the sale, the chief executive officer now directly owns 9,267 shares in the company, valued at $2,735,803.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,004 shares of company stock valued at $11,137,223. 0.50% of the stock is currently owned by insiders.

Saia Trading Up 14.6 %

Shares of SAIA stock opened at $297.77 on Friday. Saia, Inc. has a 12-month low of $168.03 and a 12-month high of $306.40. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $273.13 and its 200-day moving average price is $247.31. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 4.44 and a beta of 1.52.

Saia (NASDAQ:SAIA – Get Rating) last issued its earnings results on Friday, February 3rd. The transportation company reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.15). Saia had a return on equity of 24.73% and a net margin of 12.80%. The firm had revenue of $655.70 million during the quarter, compared to the consensus estimate of $652.12 million. During the same period last year, the firm posted $2.76 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts predict that Saia, Inc. will post 12.36 EPS for the current fiscal year.

Saia Company Profile

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Saia, Inc operates as a transportation holding company. The firm through its wholly-owned subsidiaries provides regional and interregional less-than-truckload (LTL) services through a single integrated organization. The firm also offers other value-added services, including non-asset truckload, expedited and logistics services across North America.