Union Bancaire Privee UBP SA Sells 10,695 Shares of Old Dominion Freight Line, Inc. $ODFL

Union Bancaire Privee UBP SA lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.4% during the first quarter, HoldingsChannel reports. The fund owned 29,866 shares of the transportation company’s stock after selling 10,695 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Old Dominion Freight Line were worth $5,340,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ODFL. Brighton Jones LLC raised its stake in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP bought a new stake in Old Dominion Freight Line during the second quarter worth $7,478,000. Jump Financial LLC bought a new stake in Old Dominion Freight Line during the second quarter worth $2,891,000. Finally, AXA S.A. raised its position in Old Dominion Freight Line by 1.2% in the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after buying an additional 238 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating and issued a $224.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Argus increased their target price on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Wells Fargo & Company set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $218.57.

Old Dominion Freight Line Trading Down 0.6%

Shares of Old Dominion Freight Line stock opened at $218.79 on Friday. The business’s fifty day simple moving average is $218.74 and its 200 day simple moving average is $195.20. The firm has a market capitalization of $45.50 billion, a P/E ratio of 45.77, a price-to-earnings-growth ratio of 4.39 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 data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping 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 business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

About Old Dominion Freight Line

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.