Bank Julius Baer & Co. Ltd Zurich Sells 4,221 Shares of Old Dominion Freight Line, Inc. $ODFL

Bank Julius Baer & Co. Ltd Zurich decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,040 shares of the transportation company’s stock after selling 4,221 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Old Dominion Freight Line were worth $3,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after purchasing an additional 776,004 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares during the last quarter. Boston Partners bought a new position in Old Dominion Freight Line in the 3rd quarter valued at approximately $292,599,000. Finally, Lazard Asset Management LLC lifted its stake in Old Dominion Freight Line by 6.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,054,044 shares of the transportation company’s stock valued at $289,168,000 after purchasing an additional 120,564 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director directly owned 11,278 shares in the company, valued at $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 102,241 shares of company stock valued at $19,874,065. Company insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ODFL shares. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 12th. UBS Group raised their price target on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target for the company. in a research note on Thursday, February 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Finally, Wolfe Research raised their price target on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the company an “underperform” rating in a research note on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $206.29.

Old Dominion Freight Line Trading Up 2.2%

NASDAQ:ODFL opened at $203.12 on Friday. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 4.07 and a beta of 1.17. The firm has a fifty day simple moving average of $200.07 and a two-hundred day simple moving average of $176.80. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

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.