Old Dominion Freight Line, Inc. $ODFL Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 435,111 shares of the transportation company’s stock after selling 50,367 shares during the period. Natixis Advisors LLC owned 0.21% of Old Dominion Freight Line worth $61,255,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares during the last quarter. Truist Financial Corp increased its position in Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after buying an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. acquired a new position in shares of Old Dominion Freight Line in the third quarter worth $4,307,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at $1,999,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 10.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,271 shares of the transportation company’s stock valued at $11,441,000 after acquiring an additional 7,709 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on ODFL shares. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a research report on Thursday, February 5th. UBS Group restated a “neutral” rating and issued a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Bank of America set a $165.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, December 18th. Susquehanna reiterated a “neutral” rating and set a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. Finally, Stephens reissued an “overweight” rating and issued a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $190.50.

Old Dominion Freight Line Trading Up 1.7%

Old Dominion Freight Line stock opened at $197.22 on Tuesday. The firm has a market capitalization of $41.11 billion, a P/E ratio of 40.83, a PEG ratio of 4.08 and a beta of 1.23. The stock has a fifty day moving average price of $184.76 and a 200 day moving average price of $158.43. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a $0.29 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Insider Buying and Selling

In related news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 80,134 shares of company stock valued at $15,640,132. Insiders own 10.00% of the company’s stock.

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.