Old Dominion Freight Line, Inc. $ODFL Stock Holdings Raised by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super increased its Old Dominion Freight Line stake by 64.5% in the third quarter, purchasing 82,231 additional shares and bringing its holdings to 209,748 shares worth approximately $36.5 million.
• Old Dominion reported quarterly revenue of $1.59 billion and earnings of $1.65 per share, exceeding analyst expectations; revenue rose 13.1% year over year.
• The stock opened at $176.23, while analysts maintained a consensus “Hold” rating with an average price target of $217.30. The company also declared a quarterly dividend of $0.29 per share, yielding about 0.7%.

Aware Super Pty Ltd as trustee of Aware Super lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 64.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,748 shares of the transportation company's stock after purchasing an additional 82,231 shares during the period. Aware Super Pty Ltd as trustee of Aware Super owned about 0.10% of Old Dominion Freight Line worth $36,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ODFL. Bell Investment Advisors Inc purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth $25,000. Solstein Capital LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $26,000. EFG International AG acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $29,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock worth $27,000 after purchasing an additional 62 shares in the last quarter. 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 $176.23 on Tuesday. The firm has a 50 day simple moving average of $182.95 and a 200-day simple moving average of $201.49. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The stock has a market cap of $36.54 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.87 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 20.86%.

Insider Activity

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company's stock, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $231.00 to $223.00 in a research report on Tuesday, September 8th. Sanford C. Bernstein started coverage on Old Dominion Freight Line in a report on Thursday, September 10th. They issued a "market perform" rating and a $200.00 price objective on the stock. Stifel Nicolaus cut their price objective on Old Dominion Freight Line from $230.00 to $224.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Raymond James Financial reissued an "outperform" rating and set a $210.00 target price on shares of Old Dominion Freight Line in a report on Thursday. Finally, UBS Group decreased their target price on Old Dominion Freight Line from $228.00 to $194.00 and set a "neutral" rating on the stock in a research report on Thursday, October 29th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average price target of $217.30.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company's services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.

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