Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,852 shares of the transportation company’s stock after selling 1,199 shares during the period. Intech Investment Management LLC’s holdings in Old Dominion Freight Line were worth $5,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the last quarter. Invesco Ltd. lifted its stake in Old Dominion Freight Line by 1.3% during the third quarter. Invesco Ltd. now owns 1,397,382 shares of the transportation company’s stock worth $571,725,000 after purchasing an additional 18,418 shares in the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $495,387,000. Northern Trust Corp grew its stake in shares of Old Dominion Freight Line by 5.5% in the third quarter. Northern Trust Corp now owns 1,015,481 shares of the transportation company’s stock valued at $415,474,000 after buying an additional 52,963 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Old Dominion Freight Line by 7.7% in the third quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock valued at $393,397,000 after buying an additional 68,960 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ODFL has been the subject of several research reports. Susquehanna lifted their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. Raymond James upped their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Wednesday, May 8th. UBS Group increased their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Evercore ISI decreased their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $209.08.

Old Dominion Freight Line Price Performance

ODFL traded up $1.49 on Friday, hitting $173.06. 1,852,339 shares of the company were exchanged, compared to its average volume of 2,006,345. Old Dominion Freight Line, Inc. has a fifty-two week low of $149.00 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market capitalization of $37.60 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The business’s fifty day moving average is $205.50 and its 200 day moving average is $204.12.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.60%. Old Dominion Freight Line’s payout ratio is 18.31%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.