Prudential PLC Sells 23,625 Shares of Old Dominion Freight Line, Inc. $ODFL

Prudential PLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 88.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,065 shares of the transportation company’s stock after selling 23,625 shares during the quarter. Prudential PLC’s holdings in Old Dominion Freight Line were worth $481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DT Investment Partners LLC raised its position in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after buying an additional 180 shares during the last quarter. Torren Management LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $37,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $50,000. Finally, State of Wyoming bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $57,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.8%

NASDAQ ODFL opened at $247.01 on Tuesday. The company has a fifty day moving average of $211.06 and a two-hundred day moving average of $186.70. The firm has a market capitalization of $51.37 billion, a price-to-earnings ratio of 51.68, a PEG ratio of 4.92 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $250.69.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.37 EPS 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. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is presently 24.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ODFL. Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Friday. Stifel Nicolaus raised their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a report on Thursday. Finally, Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $209.88.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is owned by insiders.

About Old Dominion Freight Line

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.