Legal & General Group Plc Sells 124,827 Shares of Old Dominion Freight Line, Inc. $ODFL

Legal & General Group Plc trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,173,092 shares of the transportation company’s stock after selling 124,827 shares during the period. Legal & General Group Plc’s holdings in Old Dominion Freight Line were worth $183,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Westside Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line during the third quarter valued at $37,000. Torren Management LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth about $41,000. Kohmann Bosshard Financial Services LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Old Dominion Freight Line in the 3rd quarter worth about $55,000. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction that occurred 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. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $219.45 on Thursday. The stock has a market capitalization of $45.64 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 4.43 and a beta of 1.17. The stock’s 50-day simple moving average is $203.23 and its two-hundred day simple moving average is $181.14. 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 released 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 firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. UBS Group boosted their price objective on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Citigroup restated a “neutral” rating and set a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. The Goldman Sachs Group set a $216.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn cut their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $206.29.

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.