Epoch Investment Partners Inc. Decreases Position in Old Dominion Freight Line, Inc. $ODFL

Epoch Investment Partners Inc. trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 23.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,532 shares of the transportation company’s stock after selling 175,465 shares during the period. Epoch Investment Partners Inc. owned approximately 0.28% of Old Dominion Freight Line worth $113,045,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODFL. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Reflection Asset Management purchased a new position in Old Dominion Freight Line during the fourth quarter worth $28,000. Evolution Wealth Management Inc. bought a new position in Old Dominion Freight Line during the first quarter valued at $29,000. DT Investment Partners LLC increased its position 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 valued at $33,000 after acquiring an additional 180 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at $39,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Susquehanna raised their price objective on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Citigroup raised Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price target for the company in a research note on Thursday, July 9th. Stifel Nicolaus set a $256.00 price objective on Old Dominion Freight Line and gave the company a “buy” rating in a report on Tuesday. Finally, TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $223.04.

Old Dominion Freight Line Stock Up 1.0%

Shares of ODFL stock opened at $232.99 on Friday. The firm has a market cap of $48.45 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 4.16 and a beta of 1.18. The company’s 50 day moving average is $225.49 and its 200 day moving average is $204.77. 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 posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is presently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line 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.