Old Dominion Freight Line (ODFL) Shares Sold by Guggenheim Capital LLC

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Guggenheim Capital LLC lessened its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 20.5% in the first quarter, Holdings Channel reports. The institutional investor owned 49,196 shares of the transportation company’s stock after selling 12,666 shares during the quarter. Guggenheim Capital LLC’s holdings in Old Dominion Freight Line were worth $7,230,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ODFL. BlackRock Inc. boosted its position in Old Dominion Freight Line by 5.5% during the first quarter. BlackRock Inc. now owns 6,327,079 shares of the transportation company’s stock worth $929,891,000 after purchasing an additional 327,807 shares during the period. Lord Abbett & CO. LLC boosted its position in Old Dominion Freight Line by 35.3% during the first quarter. Lord Abbett & CO. LLC now owns 939,673 shares of the transportation company’s stock worth $138,104,000 after purchasing an additional 245,055 shares during the period. Federated Investors Inc. PA boosted its position in Old Dominion Freight Line by 570.2% during the first quarter. Federated Investors Inc. PA now owns 281,215 shares of the transportation company’s stock worth $41,331,000 after purchasing an additional 239,256 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Old Dominion Freight Line by 9.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,627,736 shares of the transportation company’s stock worth $386,199,000 after purchasing an additional 236,313 shares during the period. Finally, AGF Investments Inc. boosted its position in Old Dominion Freight Line by 91.2% during the first quarter. AGF Investments Inc. now owns 448,298 shares of the transportation company’s stock worth $65,886,000 after purchasing an additional 213,786 shares during the period. Institutional investors and hedge funds own 71.75% of the company’s stock.

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 800 shares of Old Dominion Freight Line stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $148.44, for a total transaction of $118,752.00. Following the completion of the sale, the director now directly owns 5,679 shares in the company, valued at $842,990.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.00% of the company’s stock.

A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Cowen restated a “market perform” rating and issued a $145.00 price objective (up from $136.00) on shares of Old Dominion Freight Line in a research report on Monday, April 30th. Argus assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, May 23rd. They issued a “buy” rating and a $175.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Old Dominion Freight Line from $127.00 to $133.00 and gave the company an “underperform” rating in a research report on Thursday, March 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $142.00.

Shares of Old Dominion Freight Line opened at $148.96 on Friday, MarketBeat reports. Old Dominion Freight Line has a 1 year low of $93.29 and a 1 year high of $164.10. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 0.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 26th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. Old Dominion Freight Line had a net margin of 14.38% and a return on equity of 18.47%. The business had revenue of $925.02 million during the quarter, compared to analyst estimates of $925.83 million. During the same period in the previous year, the business posted $0.80 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 22.7% on a year-over-year basis. equities research analysts predict that Old Dominion Freight Line will post 6.44 earnings per share for the current fiscal year.

Old Dominion Freight Line announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 17th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Wednesday, June 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, June 5th. This represents a $0.52 annualized dividend and a yield of 0.35%. Old Dominion Freight Line’s payout ratio is presently 11.93%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line (NASDAQ:ODFL).

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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