US Bancorp DE Sells 4,478 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• US Bancorp DE reduced its holdings in Old Dominion Freight Line by 16.2%, selling 4,478 shares, bringing its total share ownership to 23,154 shares valued at approximately $3.83 million.
• Old Dominion's latest quarterly earnings report indicated an EPS of $1.27, falling short of analyst expectations of $1.29, with a 6.1% decrease in revenue year-over-year.
• The company declared a quarterly dividend of $0.28 per share, with the dividend yield currently at 0.7% and a payout ratio of 21.88%.

US Bancorp DE trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,154 shares of the transportation company's stock after selling 4,478 shares during the period. US Bancorp DE's holdings in Old Dominion Freight Line were worth $3,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after buying an additional 35,778 shares during the last quarter. GAMMA Investing LLC increased its holdings in Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after purchasing an additional 1,018 shares during the period. World Investment Advisors bought a new position in Old Dominion Freight Line during the 4th quarter valued at approximately $360,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after buying an additional 1,529 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Old Dominion Freight Line by 93.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,396 shares of the transportation company's stock worth $2,716,000 after buying an additional 7,439 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ODFL shares. Evercore ISI decreased their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a report on Thursday, July 31st. Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday. Finally, UBS Group cut their price objective on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $167.62.

Old Dominion Freight Line Stock Performance

ODFL traded down $4.60 during midday trading on Thursday, hitting $145.33. 1,806,086 shares of the company traded hands, compared to its average volume of 1,975,858. The company's 50-day moving average is $161.28 and its 200 day moving average is $167.87. Old Dominion Freight Line, Inc. has a 52 week low of $141.73 and a 52 week high of $233.26. The firm has a market capitalization of $30.71 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.45 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

About Old Dominion Freight Line

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.