London Co. of Virginia Has $161.60 Million Position in Old Dominion Freight Line, Inc. $ODFL

London Co. of Virginia reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,030,574 shares of the transportation company’s stock after selling 58,107 shares during the quarter. London Co. of Virginia’s holdings in Old Dominion Freight Line were worth $161,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. DT Investment Partners LLC raised its stake in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line during the third quarter worth $37,000. Torren Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Old Dominion Freight Line during the third quarter worth $55,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 2.4%

Old Dominion Freight Line stock opened at $231.62 on Wednesday. The business’s 50-day simple moving average is $216.62 and its 200 day simple moving average is $191.34. The stock has a market cap of $48.17 billion, a price-to-earnings ratio of 48.46, a P/E/G ratio of 4.81 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ODFL. TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. BMO Capital Markets restated an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 4th. The Goldman Sachs Group set a $216.00 target price on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and set a $224.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, Wolfe Research increased their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.57.

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.