Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC decreased its stake in Old Dominion Freight Line by 3.1%, owning 81,947 shares following the sale of 2,660 shares.
• Old Dominion Freight Line reported earnings of $1.27 EPS for the quarter, missing estimates by ($0.02), with revenues down 6.1% year-over-year.
• The company has declared a quarterly dividend of $0.28 per share, with a dividend yield of 0.8%, to be paid on September 17th.

Geneva Capital Management LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,947 shares of the transportation company's stock after selling 2,660 shares during the period. Geneva Capital Management LLC's holdings in Old Dominion Freight Line were worth $13,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Larson Financial Group LLC boosted its position in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares during the period. American National Bank & Trust purchased a new position in Old Dominion Freight Line in the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC purchased a new position in Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares during the period. Finally, Olde Wealth Management LLC purchased a new position in Old Dominion Freight Line in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $4.60 during trading on Thursday, reaching $145.33. The company's stock had a trading volume of 1,806,086 shares, compared to its average volume of 1,851,713. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.32 and a current ratio of 1.38. The firm has a market cap of $30.71 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 3.39 and a beta of 1.24. Old Dominion Freight Line, Inc. has a twelve month low of $141.73 and a twelve month high of $233.26. The business's fifty day moving average price is $161.28 and its 200-day moving average price is $167.87.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line's payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ODFL. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. UBS Group decreased their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $167.62.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.