Reaves W H & Co. Inc. Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Reaves W H & Co. Inc. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 48.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,200 shares of the transportation company’s stock after selling 4,000 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Old Dominion Freight Line were worth $659,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Founders Financial Securities LLC boosted its stake in shares of Old Dominion Freight Line by 10.3% during the 4th quarter. Founders Financial Securities LLC now owns 7,111 shares of the transportation company’s stock worth $1,115,000 after acquiring an additional 664 shares in the last quarter. MUFG Securities EMEA plc boosted its stake in shares of Old Dominion Freight Line by 113.1% during the 4th quarter. MUFG Securities EMEA plc now owns 7,543 shares of the transportation company’s stock worth $1,183,000 after acquiring an additional 4,003 shares in the last quarter. DT Investment Partners LLC boosted its stake in shares of 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 acquiring an additional 180 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Old Dominion Freight Line by 18.2% during the 4th quarter. BNP Paribas Financial Markets now owns 702,400 shares of the transportation company’s stock worth $110,136,000 after acquiring an additional 108,335 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 470.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 599 shares of the transportation company’s stock worth $94,000 after acquiring an additional 494 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ODFL has been the topic of several recent analyst reports. Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. BMO Capital Markets increased their target price on shares of Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. 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, Wolfe Research increased their target price on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $206.29.

Old Dominion Freight Line Price Performance

ODFL opened at $225.15 on Monday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79. The company has a 50-day moving average price of $204.81 and a 200 day moving average price of $182.32. The company has a market cap of $46.82 billion, a PE ratio of 47.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

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.