Third View Private Wealth LLC Takes Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Third View Private Wealth LLC bought a new stake of 10,923 shares in Old Dominion Freight Line during Q4, valued at about $1.713 million.
• Q4 results showed EPS of $1.09 (versus $1.06 consensus) and revenue of $1.31 billion (slightly above estimates) but revenue was down 5.7% year‑over‑year, with ROE at 24.03% and a net margin of 18.62%.
• Insider selling was notable: Chairman David S. Congdon sold 52,000 shares for roughly $10.13 million, and insiders sold 80,134 shares totaling $15.64 million over the last 90 days, though insiders still own about 10% of the company.

Third View Private Wealth LLC bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 10,923 shares of the transportation company's stock, valued at approximately $1,713,000.

Other institutional investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. boosted 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 acquiring an additional 98 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $55,000. Finally, Zions Bancorporation National Association UT boosted its position in shares of Old Dominion Freight Line by 273.5% during the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company's stock valued at $62,000 after acquiring an additional 320 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.3%

ODFL stock opened at $207.63 on Tuesday. The company has a market cap of $43.28 billion, a P/E ratio of 42.99, a PEG ratio of 4.38 and a beta of 1.20. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $221.63. The business has a fifty day moving average of $195.41 and a 200-day moving average of $166.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. Old Dominion Freight Line's payout ratio is presently 24.02%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Argus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 target price on the stock in a research report on Thursday, February 12th. Raymond James Financial lifted their target price 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. Susquehanna reissued a "neutral" rating and set a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. Rothschild & Co Redburn lifted their price target on shares of Old Dominion Freight Line from $114.00 to $176.00 and gave the company a "sell" rating in a report on Friday, February 6th. Finally, Robert W. Baird downgraded shares of Old Dominion Freight Line from a "neutral" rating to an "underperform" rating and lifted their price target for the company from $166.00 to $204.00 in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $194.92.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chairman directly owned 712,800 shares of the company's stock, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 11,278 shares of the company's stock, valued at approximately $2,190,977.06. This trade represents a 21.75% 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 ninety days. 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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