19,272 Shares in Old Dominion Freight Line, Inc. $ODFL Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,272 shares of the transportation company’s stock, valued at approximately $3,026,000.

A number of other hedge funds also recently bought and sold shares of ODFL. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after acquiring an additional 494,674 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares during the period. Boston Partners bought a new position in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $292,599,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Old Dominion Freight Line by 6.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,054,044 shares of the transportation company’s stock worth $289,168,000 after purchasing an additional 120,564 shares during the period. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ODFL shares. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Citigroup reissued a “neutral” rating and issued a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 12th. Stephens restated an “overweight” rating and set a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $206.29.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was 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 directly owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $228.53 on Tuesday. The company has a 50 day simple moving average of $205.73 and a two-hundred day simple moving average of $182.95. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $233.79. The firm has a market cap of $47.53 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 4.61 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.31 billion. During the same period last year, the firm posted $1.19 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate 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 $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

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.