Hsbc Holdings PLC lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 358,228 shares of the transportation company’s stock after selling 33,301 shares during the quarter. Hsbc Holdings PLC’s holdings in Old Dominion Freight Line were worth $56,274,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $28,000. DT Investment Partners LLC grew its position in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Old Dominion Freight Line during the 3rd quarter worth $37,000. DV Equities LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth $40,000. Finally, Torren Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 77.82% of the company’s stock.
Wall Street Analyst Weigh In
ODFL has been the subject of a number of recent analyst reports. UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Thursday, April 30th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Barclays set a $210.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $217.30.
Old Dominion Freight Line Price Performance
NASDAQ ODFL opened at $219.52 on Tuesday. The business has a fifty day moving average price of $217.86 and a two-hundred day moving average price of $193.65. The stock has a market capitalization of $45.65 billion, a PE ratio of 45.92, a PEG ratio of 4.44 and a beta of 1.17. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $1.19 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.
Old Dominion Freight Line Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is currently 24.27%.
Insider Transactions at Old Dominion Freight Line
In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was 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. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than Old Dominion Freight Line
- Buy CrowdStrike Before the Stock Split? Here’s the Case
- Investors Are Buying Into Sweetgreen Again—Should They?
- Burlington Is Winning Over Shoppers But Investors Need Patience
- USA Today’s Digital Revival Is Gaining Steam, But With Plenty of Risk
Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report).
Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.
