Union Bancaire Privee UBP SA Sells 10,695 Shares of Old Dominion Freight Line, Inc. $ODFL

Union Bancaire Privee UBP SA cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,866 shares of the transportation company’s stock after selling 10,695 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Old Dominion Freight Line were worth $5,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Old Dominion Freight Line by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the last quarter. State Street Corp raised its position in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after acquiring an additional 70,736 shares in the last quarter. CIBC Private Wealth Group LLC raised its position 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 acquiring an additional 776,004 shares in the last quarter. Boston Partners lifted its stake in shares of Old Dominion Freight Line by 98.4% in the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock valued at $648,186,000 after purchasing an additional 2,044,434 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock valued at $577,137,000 after purchasing an additional 365,424 shares during the period. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. Wolfe Research lifted their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a report on Tuesday, April 7th. Susquehanna increased their price target on Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn cut their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $224.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $218.57.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $218.79 on Friday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of 45.77, a PEG ratio of 4.39 and a beta of 1.17. The business has a 50-day simple moving average of $218.74 and a 200 day simple moving average of $195.20.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by 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.