GREEN BAY, Wis.—Jackson Thomas G, the Executive Vice President and General Counsel at Schneider National, Inc. (NYSE:SNDR), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Thomas executed the sale of 18,248 shares of Class B Common Stock on November 27, 2024. The shares were sold at a weighted average price of $33.0691 per share, resulting in a total transaction value of approximately $603,444. The sale comes as the stock trades near its 52-week high of $33.90, with InvestingPro data showing an impressive 50.7% return over the past six months.
The sale follows an exercise of employee stock options, where Thomas acquired the same number of shares at an exercise price of $16.76 per share. This transaction was part of a series of trades executed at prices ranging from $32.91 to $33.28 per share. Following these transactions, Thomas now holds 66,526 shares of Schneider National directly. According to InvestingPro analysis, the stock is currently trading at a relatively high P/E ratio of 51.7, suggesting premium valuations compared to historical levels.
This activity is part of regular financial management and does not necessarily indicate any changes in Thomas’s outlook on the company. Schneider National, headquartered in Green Bay, Wisconsin, operates in the trucking industry and continues to focus on providing transportation and logistics services.
In other recent news, Schneider National's stock target was raised by financial analyst firms Benchmark and TD Cowen to $34.00, maintaining a Buy rating. This change comes after the company's recent acquisition of Cowan Systems for $390 million, a move expected to bolster Schneider's Dedicated segment. The acquisition is set to add approximately 1,800 trucks and 7,500 trailers to Schneider's fleet.
Analysts from Benchmark and TD Cowen anticipate the deal to positively impact Schneider's financial performance, projecting gradual improvements in Truckload contract pricing and margins into 2025. In contrast, Evercore ISI reduced its stock target for Schneider from $27.00 to $26.00, retaining an In Line rating.
Regarding Schneider's financial performance, the company reported steady revenues of $1.2 billion in its recent third-quarter earnings report, though the adjusted diluted earnings per share saw a minor dip from $0.20 to $0.18. Schneider also anticipates a stronger fourth quarter, predicting improved market conditions and seasonal effects. These are the recent developments for Schneider National.
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