Old Dominion Freight Line, Inc. $ODFL Position Reduced by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill reduced its Old Dominion Freight Line stake by 21.5% in the first quarter, selling 27,458 shares and retaining 100,488 shares valued at approximately $19.6 million. Institutional investors collectively own 77.82% of the company.
• Old Dominion reported quarterly EPS of $1.68, beating estimates of $1.54, while revenue rose 10.4% year over year to $1.55 billion. The company also declared a quarterly dividend of $0.29 per share, equivalent to a 0.5% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $226.55, compared with the stock’s reported opening price of $212.14.

Segall Bryant & Hamill LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 21.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,488 shares of the transportation company's stock after selling 27,458 shares during the period. Segall Bryant & Hamill LLC's holdings in Old Dominion Freight Line were worth $19,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock valued at $27,000 after buying an additional 62 shares during the period. Reflection Asset Management bought a new position in Old Dominion Freight Line during the fourth quarter valued at about $28,000. Evolution Wealth Management Inc. acquired a new position in Old Dominion Freight Line during the first quarter worth about $29,000. DT Investment Partners LLC grew its holdings in 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 worth $33,000 after acquiring an additional 180 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Old Dominion Freight Line in the first quarter worth about $39,000. 77.82% of the stock is owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Down 0.2%

Shares of NASDAQ ODFL opened at $212.14 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market cap of $44.12 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 3.70 and a beta of 1.18. The business has a fifty day simple moving average of $226.77 and a 200-day simple moving average of $206.57.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line's revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 22.35%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ODFL. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Citigroup reaffirmed a "neutral" rating and issued a $231.00 price objective (up from $228.00) on shares of Old Dominion Freight Line in a research note on Thursday. Morgan Stanley reaffirmed an "equal weight" rating and issued a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. Susquehanna boosted their target price on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $227.00 target price on shares of Old Dominion Freight Line in a research note on Thursday. Nine analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $226.55.

Old Dominion Freight Line Profile

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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