Goldman Sachs Group Inc. Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Goldman Sachs Group Inc. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,314,157 shares of the transportation company’s stock after buying an additional 639,769 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Old Dominion Freight Line were worth $519,660,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares during the period. Wilson Asset Management International PTY Ltd. bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $4,307,000. Citigroup Inc. lifted its position in shares of Old Dominion Freight Line by 46.4% during the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock valued at $146,507,000 after buying an additional 329,895 shares in the last quarter. Value Partners Investments Inc. lifted its position in shares of Old Dominion Freight Line by 38.7% during the 4th quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock valued at $3,157,000 after buying an additional 5,610 shares in the last quarter. Finally, Quantum Capital Management LLC NJ grew its stake in shares of Old Dominion Freight Line by 26.2% during the 3rd quarter. Quantum Capital Management LLC NJ now owns 594,391 shares of the transportation company’s stock valued at $83,678,000 after acquiring an additional 123,271 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $245.52 on Friday. The firm has a market cap of $51.06 billion, a price-to-earnings ratio of 51.36, a P/E/G ratio of 4.81 and a beta of 1.17. The firm has a fifty day moving average price of $208.81 and a 200 day moving average price of $185.09. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $245.78.

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, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. Old Dominion Freight Line’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.35 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ODFL. Citigroup restated a “neutral” rating and set a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating and issued a $224.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 12th. Stifel Nicolaus lifted their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Finally, Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $207.08.

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.