Old Dominion Freight Line, Inc. $ODFL Shares Sold by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 48.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the transportation company’s stock after selling 4,000 shares during the period. Reaves W H & Co. Inc.’s holdings in Old Dominion Freight Line were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Founders Financial Securities LLC raised its holdings in Old Dominion Freight Line by 10.3% in the 4th quarter. Founders Financial Securities LLC now owns 7,111 shares of the transportation company’s stock valued at $1,115,000 after acquiring an additional 664 shares during the last quarter. MUFG Securities EMEA plc increased its holdings in shares of Old Dominion Freight Line by 113.1% during the 4th quarter. MUFG Securities EMEA plc now owns 7,543 shares of the transportation company’s stock worth $1,183,000 after buying an additional 4,003 shares during the last quarter. DT Investment Partners LLC increased its holdings in shares of Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after buying an additional 180 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Old Dominion Freight Line by 18.2% during the 4th quarter. BNP Paribas Financial Markets now owns 702,400 shares of the transportation company’s stock worth $110,136,000 after buying an additional 108,335 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 470.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 599 shares of the transportation company’s stock worth $94,000 after buying an additional 494 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $225.15 on Monday. The stock has a market capitalization of $46.82 billion, a P/E ratio of 47.10, a PEG ratio of 4.61 and a beta of 1.17. The company has a 50 day moving average price of $204.81 and a 200 day moving average price of $182.32. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ODFL. Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. BMO Capital Markets raised their price target on shares of Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Stephens restated an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Finally, TD Cowen restated a “hold” rating and set a $194.00 price target (up from $180.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.