Epoch Investment Partners Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 23.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 578,532 shares of the transportation company’s stock after selling 175,465 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Old Dominion Freight Line were worth $113,045,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $28,000. Evolution Wealth Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $29,000. DT Investment Partners LLC grew its stake in 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. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. 77.82% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Old Dominion Freight Line
In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction 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 $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by insiders.
Old Dominion Freight Line Stock Up 1.0%
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. 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 is presently 24.27%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Wells Fargo & Company upgraded Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price target for the company from $235.00 to $250.00 in a research note on Wednesday, July 8th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Robert W. Baird set a $229.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $223.04.
Get Our Latest Stock Report on ODFL
About Old Dominion Freight Line
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.
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