Truist Financial Corp Boosts Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Truist Financial Corp increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,980 shares of the transportation company’s stock after purchasing an additional 2,861 shares during the period. Truist Financial Corp’s holdings in Old Dominion Freight Line were worth $14,266,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ODFL. Brighton Jones LLC increased its holdings in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the period. Empowered Funds LLC grew its stake in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Marshall Wace LLP bought a new position in Old Dominion Freight Line in the second quarter worth about $7,478,000. Jump Financial LLC bought a new position in Old Dominion Freight Line in the second quarter worth about $2,891,000. Finally, AXA S.A. lifted its position in shares of Old Dominion Freight Line by 1.2% during the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after buying an additional 238 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ODFL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Citigroup reaffirmed a “neutral” rating and issued a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $206.46.

Insider Activity

In other news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,241 shares of company stock worth $19,874,065 over the last three months. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Down 1.3%

Shares of ODFL stock opened at $198.06 on Friday. The stock has a market cap of $41.25 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 4.11 and a beta of 1.17. The business has a 50-day simple moving average of $201.05 and a 200-day simple moving average of $174.68. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $233.79.

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 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 analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

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.