Old Dominion Freight Line, Inc. $ODFL Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 45.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,646 shares of the transportation company’s stock after selling 13,823 shares during the quarter. Pacer Advisors Inc.’s holdings in Old Dominion Freight Line were worth $3,253,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Baillie Gifford & Co. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $13,322,000. Waterfront Wealth Inc. acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at approximately $1,430,000. AustralianSuper Pty Ltd raised its position in Old Dominion Freight Line by 955.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after purchasing an additional 67,898 shares during the period. Summitry LLC raised its position in Old Dominion Freight Line by 5.4% in the fourth quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock valued at $34,210,000 after purchasing an additional 11,223 shares during the period. Finally, Partners Group Holding AG lifted its stake in Old Dominion Freight Line by 37.0% during the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock worth $30,518,000 after purchasing an additional 52,514 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.9%

Shares of ODFL stock opened at $211.41 on Friday. The firm has a 50 day moving average of $226.58 and a two-hundred day moving average of $207.92. The stock has a market capitalization of $43.97 billion, a PE ratio of 40.73, a P/E/G ratio of 3.74 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. Analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 22.35%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Argus raised their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. raised their target price on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $243.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $226.55.

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.