Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,267 shares of the transportation company’s stock after selling 4,287 shares during the period. Corient Private Wealth LLC’s holdings in Old Dominion Freight Line were worth $41,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Old Dominion Freight Line by 14.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after buying an additional 2,335 shares during the period. Jag Capital Management LLC increased its position in shares of Old Dominion Freight Line by 108.5% during the 4th quarter. Jag Capital Management LLC now owns 18,833 shares of the transportation company’s stock worth $7,634,000 after purchasing an additional 9,800 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Old Dominion Freight Line during the third quarter worth about $783,000. Charles Schwab Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 513,755 shares of the transportation company’s stock valued at $210,198,000 after acquiring an additional 4,692 shares during the last quarter. Finally, Citigroup Inc. raised its position in Old Dominion Freight Line by 51.9% in the third quarter. Citigroup Inc. now owns 101,466 shares of the transportation company’s stock valued at $41,514,000 after purchasing an additional 34,681 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $172.49 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line, Inc. has a one year low of $147.90 and a one year high of $227.80. The company has a 50-day simple moving average of $207.08 and a 200-day simple moving average of $204.47. The stock has a market capitalization of $37.48 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.22 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, analysts predict that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target on the stock in a research note on Wednesday, May 8th. UBS Group boosted their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research note on Monday, April 29th. The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.08.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.