Capital World Investors Purchases 5,048 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Capital World Investors increased its stake in Old Dominion Freight Line by 5,048 shares in the fourth quarter, bringing its total holding to 2.38 million shares valued at about $372.4 million.
• The company posted solid recent results, with quarterly EPS of $1.14 beating estimates and revenue of $1.33 billion topping forecasts, though revenue was still down 2.9% year over year.
• Old Dominion also announced a quarterly dividend of $0.29 per share, while analysts currently rate the stock a consensus Hold with an average target price of about $209.88.

Capital World Investors raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,375,101 shares of the transportation company's stock after purchasing an additional 5,048 shares during the quarter. Capital World Investors owned 1.14% of Old Dominion Freight Line worth $372,427,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company's stock valued at $3,273,546,000 after purchasing an additional 494,674 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Old Dominion Freight Line by 21.6% during 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock valued at $499,007,000 after acquiring an additional 622,275 shares during the period. Goldman Sachs Group Inc. increased its holdings in Old Dominion Freight Line by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,314,157 shares of the transportation company's stock worth $519,660,000 after acquiring an additional 639,769 shares in the last quarter. Finally, Norges Bank purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $444,983,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock opened at $247.01 on Tuesday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $250.69. The business has a 50 day simple moving average of $211.06 and a two-hundred day simple moving average of $186.70. The company 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 (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted $1.19 EPS. The company's revenue was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.37 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is 24.27%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the 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 $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stephens reissued an "overweight" rating and issued a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a "neutral" rating in a report on Monday. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a report on Thursday. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn reduced 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 report on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $209.88.

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.

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