Fieldview Capital Management LLC Reduces Stock Position in Old Dominion Freight Line, Inc. $ODFL

Fieldview Capital Management LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 88.4% in the fourth quarter, HoldingsChannel reports. The firm owned 3,352 shares of the transportation company’s stock after selling 25,645 shares during the quarter. Fieldview Capital Management LLC’s holdings in Old Dominion Freight Line were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Norges Bank purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $444,983,000. Boston Partners purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth about $292,599,000. Two Sigma Investments LP increased its position in Old Dominion Freight Line by 637.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after purchasing an additional 1,362,697 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $188,651,000. Finally, Franklin Resources Inc. increased its position in Old Dominion Freight Line by 122.9% during the 4th quarter. Franklin Resources Inc. now owns 1,822,304 shares of the transportation company’s stock worth $285,737,000 after purchasing an additional 1,004,609 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James Financial reiterated an “outperform” rating and set a $224.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Stephens reiterated an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Finally, Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $215.57.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line 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 transaction, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

ODFL opened at $237.42 on Tuesday. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 4.97 and a beta of 1.17. The business has a 50-day moving average of $215.95 and a two-hundred day moving average of $190.65. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted 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. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid 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 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.