Old Dominion Freight Line, Inc. $ODFL Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 33.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,134 shares of the transportation company’s stock after selling 8,687 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Old Dominion Freight Line were worth $3,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. AustralianSuper Pty Ltd lifted its stake in shares of Old Dominion Freight Line by 955.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock worth $11,761,000 after acquiring an additional 67,898 shares during the period. Summitry LLC increased its stake in shares of Old Dominion Freight Line by 5.4% during the fourth quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock worth $34,210,000 after acquiring an additional 11,223 shares during the period. Partners Group Holding AG increased its stake in shares of Old Dominion Freight Line by 37.0% during the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock worth $30,518,000 after acquiring an additional 52,514 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Old Dominion Freight Line by 15,188.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 407,885 shares of the transportation company’s stock worth $63,956,000 after acquiring an additional 405,217 shares during the period. Finally, Park National Corp OH purchased a new position in Old Dominion Freight Line during the first quarter worth about $1,056,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $185.87 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The firm has a market capitalization of $38.54 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16. The stock’s fifty day moving average is $213.92 and its two-hundred day moving average is $210.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Rothschild & Co Redburn reduced their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. Citigroup reiterated a “neutral” rating and set a $231.00 target price (up from $228.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Susquehanna increased their target price on Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Truist Financial lifted their price target on Old Dominion Freight Line from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $226.55.

Old Dominion Freight Line 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.