Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 436.0% in the 4th quarter, Holdings Channel reports. The firm owned 52,570 shares of the transportation company’s stock after purchasing an additional 42,763 shares during the period. Intech Investment Management LLC’s holdings in Old Dominion Freight Line were worth $8,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC increased its holdings in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares during the last quarter. Diversified Trust Co. increased its holdings in Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after purchasing an additional 65 shares during the last quarter. Modera Wealth Management LLC increased its holdings in Old Dominion Freight Line by 2.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 72 shares during the last quarter. Cim LLC increased its holdings in Old Dominion Freight Line by 1.0% in the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock valued at $1,082,000 after purchasing an additional 75 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in 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 purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ODFL. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Citigroup reissued a “neutral” rating and issued a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Wolfe Research raised their price target on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the company an “underperform” rating in a research report 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $206.29.

Insider Activity

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

Old Dominion Freight Line Stock Up 1.9%

Shares of ODFL stock opened at $225.15 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79. The stock has a market capitalization of $46.82 billion, a PE ratio of 47.10, a P/E/G ratio of 4.61 and a beta of 1.17. The firm has a 50 day moving average of $204.81 and a two-hundred day moving average of $182.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS 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 company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Old Dominion Freight Line 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.