Old Dominion Freight Line, Inc. $ODFL Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in Old Dominion by 28.9% in Q4 to 107,888 shares (worth about $16.9M), while institutional investors now own roughly 77.8% of the stock.
• Significant insider selling: Chairman David S. Congdon and insider Earl E. Congdon sold 52,000 and 25,000 shares respectively, and insiders have sold 80,134 shares (~$15.6M) over the past 90 days, though insiders still hold about 10% of the company.
• Q1 beat but mixed outlook: Old Dominion reported EPS of $1.14 (vs. $1.05 expected) and $1.33B revenue, prompting some analyst target hikes and dividend uplift to $0.29 quarterly, but analysts flag valuation risks and ratings remain mixed.

Pictet Asset Management Holding SA trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,888 shares of the transportation company's stock after selling 43,845 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of Old Dominion Freight Line worth $16,917,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Old Dominion Freight Line

In related news, insider Earl E. Congdon sold 25,000 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the firm's stock in a transaction dated 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 transaction, the chairman owned 712,800 shares of the company's stock, valued at $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 80,134 shares of company stock valued at $15,640,132. Insiders own 10.00% of the company's stock.

Old Dominion Freight Line Trading Down 3.1%

Shares of ODFL opened at $205.81 on Friday. The firm's 50-day moving average is $201.00 and its two-hundred day moving average is $172.87. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79. The firm has a market capitalization of $42.87 billion, a P/E ratio of 43.06, a PEG ratio of 4.47 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 18.46% and a return on equity of 23.42%. The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.19 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post 5.18 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced 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. The ex-dividend date was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 24.27%.

Key Stories Impacting Old Dominion Freight Line

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Q1 beat: ODFL reported revenue of $1.335B and net income of $238.3M, with EPS above street estimates — a fundamental beat that prompted analyst upside and supports longer-term earnings expectations. Trucking firm Old Dominion beats profit estimates as pricing improves
• Positive Sentiment: Analysts lifted forecasts and targets after the quarter, signaling improved near-term outlook from some shops — this supports upside potential if execution continues. Old Dominion Freight Line Analysts Increase Their Forecasts Following Strong Q1 Earnings
• Positive Sentiment: Macro/industry optimism — some coverage pointed to hopes for an industrial activity rebound fueling demand for freight services, which can be a tailwind if sustained. Old Dominion Freight Line (ODFL) Surged on Optimism Over Industrial Activity Rebound
• Neutral Sentiment: Stifel raised its price target to $232 (largest upside among recent changes), a constructive signal but not a rating change. Stifel adjusts price target on Old Dominion Freight Line to $232 from $228
• Neutral Sentiment: UBS raised its target to $216 but kept a "neutral" rating — modest upside implied, so limited near-term catalyst from that call. UBS adjusts Old Dominion Freight Line price target to $216 from $202; maintains neutral rating
• Neutral Sentiment: Wells Fargo nudged its target to $205 and left an "equal weight" rating — essentially a hold view that tempers upside expectations. Wells Fargo raises price target to $205
• Neutral Sentiment: Analyst commentary flagged valuation risk despite solid fundamentals — a caution that the stock may face volatility until growth/volume trends clear. Old Dominion Freight: Solid Fundamentals, But Valuation Shows Bumpy Roads Ahead
• Negative Sentiment: JPMorgan raised its PT to $197 but kept a neutral rating — that target sits below recent levels and signals downside risk if the market focuses on valuation. JPMorgan raises price target to $197
• Negative Sentiment: Near-term selling appears driven by mixed analyst stances and valuation concerns despite the beat; coverage explaining today's dip highlights profit-taking and re-pricing versus some new, lower-relative targets. Why Old Dominion Freight Line (ODFL) shares are trading lower today

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ODFL. UBS Group increased their price target on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a "neutral" rating in a report on Thursday. Wolfe Research boosted their target price 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. Morgan Stanley set a $235.00 price target on Old Dominion Freight Line and gave the company an "overweight" rating in a report on Thursday. Stifel Nicolaus lifted their price target on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday. Finally, Argus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 price objective on the stock in a report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $203.96.

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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