Union Bancaire Privee UBP SA Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Union Bancaire Privee UBP SA increased its stake in Old Dominion by 1,373.3% in Q4, acquiring 37,808 shares to hold 40,561 shares valued at about $6.16 million.
• Insiders have been net sellers, offloading 80,134 shares worth $15.64 million in the past 90 days, including Chairman David S. Congdon's sale of 52,000 shares and Earl E. Congdon's 25,000-share sale, leaving insiders with 10.0% ownership.
• ODFL beat quarterly EPS expectations while reporting revenue down 5.7% year-over-year, raised its quarterly dividend to $0.29 (annualized $1.16, 0.6% yield), and trades at a ~$38.3 billion market cap with a consensus "Hold" price target of $191.08.

Union Bancaire Privee UBP SA grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1,373.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,561 shares of the transportation company's stock after acquiring an additional 37,808 shares during the period. Union Bancaire Privee UBP SA's holdings in Old Dominion Freight Line were worth $6,163,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership boosted its position in Old Dominion Freight Line by 9.1% during the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company's stock valued at $133,000 after purchasing an additional 68 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in Old Dominion Freight Line by 4.4% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company's stock valued at $272,000 after buying an additional 71 shares during the period. Cim LLC raised its holdings in Old Dominion Freight Line by 1.0% during the third quarter. Cim LLC now owns 7,685 shares of the transportation company's stock worth $1,082,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after buying an additional 79 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Old Dominion Freight Line by 8.5% in the 3rd quarter. Rothschild Investment LLC now owns 1,071 shares of the transportation company's stock valued at $151,000 after acquiring an additional 84 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Old Dominion Freight Line 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 transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Earl E. Congdon sold 25,000 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company's stock, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock valued at $15,640,132 over the last 90 days. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Up 0.9%

Shares of ODFL opened at $183.92 on Friday. The stock has a market capitalization of $38.33 billion, a P/E ratio of 38.08, a P/E/G ratio of 3.83 and a beta of 1.23. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $221.63. The company has a 50 day moving average of $188.40 and a 200-day moving average of $160.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The business's revenue was down 5.7% compared to the same quarter last year. On average, sell-side 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line's dividend payout ratio is presently 24.02%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stephens reiterated an "overweight" rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $168.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 10th. Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, January 8th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Old Dominion Freight Line in a research note on Thursday, February 19th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $191.08.

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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