Old Dominion Freight Line, Inc. $ODFL Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC cut its stake in Old Dominion Freight Line by 61.2% in Q4, selling 59,583 shares and retaining 37,706 shares valued at about $5.91 million.
• Insiders sold a combined 80,134 shares (~$15.64 million) last quarter — including 52,000 shares by Chairman David Congdon — though insiders still own roughly 10% of the company.
• Old Dominion posted Q4 EPS of $1.09 (slightly above estimates) with revenue down 5.7% YoY, raised its quarterly dividend to $0.29 (annualized $1.16, yield 0.5%), and trades with a market cap near $46.4 billion and a consensus "Hold" analyst rating (target $196.33).

Janney Montgomery Scott LLC cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 61.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,706 shares of the transportation company's stock after selling 59,583 shares during the period. Janney Montgomery Scott LLC's holdings in Old Dominion Freight Line were worth $5,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ODFL. E Fund Management Hong Kong Co. Ltd. lifted its position in 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 worth $27,000 after purchasing an additional 123 shares during the period. Westside Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 100.0% during the 3rd 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 during the period. DT Investment Partners LLC raised its stake in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth $37,000. Finally, Torren Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $222.78 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $227.08. The firm's 50 day simple moving average is $198.69 and its 200-day simple moving average is $170.23. The company has a market cap of $46.40 billion, a P/E ratio of 46.12, a price-to-earnings-growth ratio of 4.61 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.13 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were issued a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line's dividend payout ratio is currently 24.02%.

Analyst Ratings Changes

ODFL has been the subject of several research reports. Stephens reaffirmed an "overweight" rating and set a $232.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $182.00 to $183.00 and gave the company a "neutral" rating in a report on Tuesday, April 7th. Raymond James Financial raised their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Old Dominion Freight Line from $195.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $196.33.

Insider Transactions at Old Dominion Freight Line

In other news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the transaction, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,134 shares of company stock valued at $15,640,132 over the last quarter. Company insiders own 10.00% of the company's stock.

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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