Old Dominion Freight Line, Inc. $ODFL Shares Sold by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management reduced its Old Dominion Freight Line stake by 21% in the fourth quarter, selling 8,048 shares and leaving it with 30,317 shares worth about $4.75 million.
• Analyst sentiment is mixed: recent price targets have been nudged higher by several firms, but the broader consensus remains Hold, with an average target of $210.71.
• Old Dominion Freight Line reported better-than-expected quarterly earnings of $1.14 per share and revenue of $1.33 billion, and it also announced a quarterly dividend of $0.29 per share.

Motley Fool Wealth Management LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,317 shares of the transportation company's stock after selling 8,048 shares during the period. Motley Fool Wealth Management LLC's holdings in Old Dominion Freight Line were worth $4,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DT Investment Partners LLC increased its position in 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 valued at $33,000 after acquiring an additional 180 shares during the period. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $37,000. Torren Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analysts Set New Price Targets

ODFL has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Argus upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 price target on the stock in a research report on Thursday, February 12th. Evercore set a $219.00 price target on Old Dominion Freight Line in a research report on Thursday, April 30th. TD Cowen reiterated a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Finally, UBS Group boosted their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $210.71.

Old Dominion Freight Line Trading Up 0.7%

NASDAQ ODFL opened at $248.73 on Wednesday. The business's 50 day moving average is $212.27 and its two-hundred day moving average is $187.56. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The stock has a market capitalization of $51.73 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 5.01 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line's revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.37 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line's payout ratio is 24.27%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.00% of the company's stock.

Old Dominion Freight Line Company 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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