Truist Financial Corp Sells 12,250 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Truist Financial Corp reduced its holdings in Old Dominion Freight Line, Inc. by 13.6%, selling 12,250 shares and ending the quarter with 78,073 shares worth approximately $12.67 million.
• Analysts have set varying price targets for Old Dominion Freight Line, with a consensus rating of "Hold" and an average target price of $166.52.
• The company reported a net margin of 19.42% for the last quarter, with earnings per share of $1.27, which was below analyst estimates of $1.29.

Truist Financial Corp reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,073 shares of the transportation company's stock after selling 12,250 shares during the quarter. Truist Financial Corp's holdings in Old Dominion Freight Line were worth $12,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.1% during the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company's stock valued at $392,000 after acquiring an additional 71 shares during the period. City Holding Co. lifted its holdings in shares of Old Dominion Freight Line by 1.1% during the first quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock valued at $1,175,000 after acquiring an additional 75 shares during the period. Brighton Jones LLC lifted its holdings in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares during the period. Fortitude Advisory Group L.L.C. lifted its holdings in shares of Old Dominion Freight Line by 5.4% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock valued at $258,000 after acquiring an additional 80 shares during the period. Finally, Triumph Capital Management lifted its holdings in shares of Old Dominion Freight Line by 7.0% during the second quarter. Triumph Capital Management now owns 1,357 shares of the transportation company's stock valued at $220,000 after acquiring an additional 89 shares during the period. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ODFL shares. UBS Group lifted their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a "neutral" rating in a report on Friday. Benchmark reaffirmed a "hold" rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. TD Cowen cut their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Raymond James Financial cut their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Barclays cut their price target on Old Dominion Freight Line from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $166.52.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $141.33 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The stock's fifty day moving average price is $147.58 and its two-hundred day moving average price is $156.61. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.30 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were given a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.

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