National Bank of Canada FI Sells 21,671 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• National Bank of Canada FI reduced its stake in Old Dominion Freight Line by 19.1%, selling 21,671 shares and holding 92,022 shares worth approximately $15.2 million as of the latest SEC filing.
• In terms of analyst ratings, Old Dominion received conflicting sentiments with one sell, fifteen holds, and eight buys, while the consensus target price stands at $167.62.
• The company recently announced a quarterly dividend of $0.28, with a yield of 0.8% and a payout ratio of 21.88%, indicating a stable return for shareholders.

National Bank of Canada FI decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,022 shares of the transportation company's stock after selling 21,671 shares during the quarter. National Bank of Canada FI's holdings in Old Dominion Freight Line were worth $15,225,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its position in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the period. American National Bank & Trust bought a new stake in Old Dominion Freight Line during the first quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the first quarter worth approximately $39,000. Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the period. Finally, Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line during the first quarter worth approximately $43,000. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ODFL shares. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays set a $155.00 target price on Old Dominion Freight Line and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on 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. Truist Financial boosted their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $167.62.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $143.02 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26. The firm has a market capitalization of $30.06 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 3.33 and a beta of 1.24. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $160.30 and a 200 day simple moving average of $166.59.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.88%.

Old Dominion Freight Line Profile

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.

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