Old Dominion Freight Line, Inc. $ODFL Stock Holdings Decreased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,028 shares of the transportation company’s stock after selling 5,202 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Old Dominion Freight Line were worth $18,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $371,961,000. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares during the period. First Trust Advisors LP grew its holdings in shares of Old Dominion Freight Line by 63.8% during the second quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock valued at $246,867,000 after buying an additional 592,605 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Old Dominion Freight Line by 2.2% during the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after buying an additional 494,674 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new position in Old Dominion Freight Line during the third quarter valued at $65,951,000. 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, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of the 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 transaction, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $207.94 on Wednesday. The firm has a market cap of $43.34 billion, a PE ratio of 43.05, a PEG ratio of 10.36 and a beta of 1.23. The firm’s 50 day moving average price is $181.08 and its 200 day moving average price is $156.93. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.15.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is presently 23.19%.

Analyst Ratings Changes

ODFL has been the subject of a number of research reports. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $195.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. Truist Financial set a $225.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Susquehanna reiterated a “neutral” rating and issued a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 11th. Finally, Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $190.50.

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.