Swiss Life Asset Management Ltd Acquires 5,072 Shares of Old Dominion Freight Line, Inc. $ODFL

Swiss Life Asset Management Ltd increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,788 shares of the transportation company’s stock after buying an additional 5,072 shares during the period. Swiss Life Asset Management Ltd’s holdings in Old Dominion Freight Line were worth $9,402,000 at the end of the most recent quarter.

Other institutional investors have 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 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares during the period. Truist Financial Corp increased its holdings in Old Dominion Freight Line by 12.9% in the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock valued at $12,405,000 after purchasing an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. bought a new position in Old Dominion Freight Line during the 3rd quarter worth $4,307,000. Atlantic Union Bankshares Corp bought a new position in Old Dominion Freight Line during the 3rd quarter worth $1,999,000. Finally, Citigroup Inc. lifted its holdings in Old Dominion Freight Line by 46.4% during the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after buying an additional 329,895 shares during the period. 77.82% of the stock is owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares in the company, valued at $138,832,056. The trade was a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,134 shares of company stock valued at $15,640,132 in the last quarter. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $183.92 on Friday. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 38.08, a P/E/G ratio of 3.83 and a beta of 1.23. The business’s 50-day moving average is $188.40 and its 200-day moving average is $160.27. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.02%.

Analysts Set New Price Targets

A number of research firms have commented on ODFL. Barclays set a $185.00 price target on Old Dominion Freight Line in a research report on Thursday, February 5th. Evercore raised their price objective on Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Susquehanna reiterated a “neutral” rating and issued a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $195.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $191.08.

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.