California Public Employees Retirement System Reduces Holdings in Saia, Inc. (NASDAQ:SAIA)

California Public Employees Retirement System lowered its stake in Saia, Inc. (NASDAQ:SAIA - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,179 shares of the transportation company's stock after selling 2,747 shares during the period. California Public Employees Retirement System owned 0.12% of Saia worth $14,665,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of Saia by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company's stock valued at $1,617,000 after buying an additional 1,411 shares during the period. Glenmede Trust Co. NA raised its position in shares of Saia by 47.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 652 shares of the transportation company's stock worth $285,000 after acquiring an additional 209 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Saia in the 3rd quarter valued at approximately $474,000. Quantinno Capital Management LP boosted its position in shares of Saia by 66.7% during the third quarter. Quantinno Capital Management LP now owns 827 shares of the transportation company's stock valued at $362,000 after purchasing an additional 331 shares in the last quarter. Finally, State Street Corp grew its stake in Saia by 3.1% in the third quarter. State Street Corp now owns 805,597 shares of the transportation company's stock worth $352,255,000 after purchasing an additional 24,351 shares during the period.

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Insider Buying and Selling at Saia

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick D. Sugar sold 799 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $493.74, for a total transaction of $394,498.26. Following the completion of the transaction, the executive vice president now directly owns 8,629 shares of the company's stock, valued at approximately $4,260,482.46. This trade represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock valued at $4,646,181 in the last 90 days. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stifel Nicolaus upgraded shares of Saia from a "hold" rating to a "buy" rating and set a $524.00 target price on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Saia from $566.00 to $558.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Bank of America lowered their target price on shares of Saia from $565.00 to $484.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Raymond James reduced their price objective on Saia from $540.00 to $455.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, BMO Capital Markets raised Saia from a "market perform" rating to an "outperform" rating and set a $455.00 target price on the stock in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $486.83.

Saia Price Performance

Shares of NASDAQ SAIA traded up $51.73 during midday trading on Wednesday, reaching $374.80. The stock had a trading volume of 937,818 shares, compared to its average volume of 448,802. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. Saia, Inc. has a 12-month low of $287.50 and a 12-month high of $624.55. The stock has a 50-day moving average of $401.75 and a 200-day moving average of $458.16. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share (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 analysts' expectations of $794.69 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $3.33 earnings per share. As a group, research analysts anticipate that Saia, Inc. will post 15.46 EPS for the current fiscal year.

About Saia

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.