Old Dominion Freight Line, Inc. $ODFL is Fisher Funds Management LTD's 10th Largest Position

Key Points

• Fisher Funds raised its stake in Old Dominion Freight Line by 15% in Q4 to 538,799 shares (≈$85.0M), making ODFL its 10th-largest holding and about 0.26% of the company and 2.2% of the fund's portfolio.
• Company insiders sold 80,134 shares (~$15.64M) over the last quarter — including Chairman David Congdon's 52,000-share sale — though insiders still own about 10% of the stock.
• Analysts' consensus is a Hold with an average price target of $195.50; ODFL recently beat EPS estimates ($1.09 vs. $1.06) while revenue fell 5.7% year‑over‑year and the company modestly raised its quarterly dividend to $0.29.

Fisher Funds Management LTD raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,799 shares of the transportation company's stock after buying an additional 70,330 shares during the quarter. Old Dominion Freight Line comprises approximately 2.2% of Fisher Funds Management LTD's holdings, making the stock its 10th largest position. Fisher Funds Management LTD owned about 0.26% of Old Dominion Freight Line worth $85,033,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $55,000. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company's stock valued at $62,000 after acquiring an additional 320 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America set a $165.00 price target on Old Dominion Freight Line in a research report on Thursday, December 18th. Wolfe Research lifted their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating and set a $205.00 price target for the company. in a research report on Thursday, February 5th. UBS Group reiterated a "neutral" rating and issued a $202.00 price target (up from $164.00) on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Morgan Stanley lifted their price target on Old Dominion Freight Line from $209.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, April 6th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $195.50.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company's stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Earl E. Congdon sold 25,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares of the company's stock, valued at $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,134 shares of company stock worth $15,640,132 over the last quarter. Insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Up 4.1%

ODFL stock opened at $213.57 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $221.63. The stock has a market capitalization of $44.51 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 4.32 and a beta of 1.20. The firm's fifty day simple moving average is $195.98 and its two-hundred day simple moving average is $167.42.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The business's revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 24.02%.

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.

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.