Bradley Gabosch Sells 3,134 Shares of Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Director Bradley Gabosch sold 3,134 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director directly owned 11,278 shares in the company, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $201.39 on Friday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $208.74. The firm has a market capitalization of $42.11 billion, a P/E ratio of 41.70, a PEG ratio of 9.74 and a beta of 1.28. The business has a fifty day moving average price of $175.17 and a 200-day moving average price of $154.30.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is presently 23.19%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stephens reissued an “overweight” rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a research note on Thursday, February 5th. Robert W. Baird cut Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $166.00 to $204.00 in a research report on Thursday, February 5th. Wolfe Research set a $138.00 price target on Old Dominion Freight Line in a report on Thursday, January 8th. Finally, Bank of America set a $165.00 price objective on Old Dominion Freight Line in a report on Thursday, December 18th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $189.88.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently modified their holdings of ODFL. Vanguard Group Inc. boosted its stake in Old Dominion Freight Line by 2.2% in the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after buying an additional 494,674 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after acquiring an additional 1,761,511 shares during the last quarter. State Street Corp boosted its stake in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock valued at $1,214,618,000 after purchasing an additional 70,736 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after purchasing an additional 776,004 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Old Dominion Freight Line by 98.4% during the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock valued at $648,186,000 after purchasing an additional 2,044,434 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.