Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 88,273 Old Dominion Freight Line, Inc. $ODFL

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 1st quarter, HoldingsChannel reports. The fund acquired 88,273 shares of the transportation company’s stock, valued at approximately $17,249,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC grew its stake in shares of Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after purchasing an additional 46 shares during the last quarter. Private Advisor Group LLC raised its position in Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after purchasing an additional 55 shares during the last quarter. Keybank National Association OH raised its position in Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC lifted 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 worth $812,000 after buying an additional 60 shares during the period. 77.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of the company’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 sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ODFL shares. Truist Financial lifted their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group restated a “buy” rating and set a $235.00 target price (up from $209.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Rothschild & Co Redburn cut their price target on shares of 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. Finally, Citigroup raised shares of Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price objective on the stock in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $222.00.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $237.15 on Friday. The stock’s 50 day simple moving average is $221.07 and its two-hundred day simple moving average is $201.95. The stock has a market cap of $49.32 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 4.07 and a beta of 1.18. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

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, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.55 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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