Corient Private Wealth LLC Sells 4,354 Shares of Old Dominion Freight Line, Inc. $ODFL

Corient Private Wealth LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% during the fourth quarter, Holdings Channel reports. The fund owned 79,493 shares of the transportation company’s stock after selling 4,354 shares during the quarter. Corient Private Wealth LLC’s holdings in Old Dominion Freight Line were worth $12,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Reflection Asset Management acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $28,000. DT Investment Partners LLC grew its stake in Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. DV Equities LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $40,000. Torren Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $41,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line in the third quarter valued at $37,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ODFL. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Tuesday, June 9th. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $235.00 price objective (up from $209.00) on shares of Old Dominion Freight Line in a research note on Tuesday. Finally, Evercore set a $219.00 price target on Old Dominion Freight Line in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $218.13.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s 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 sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Down 0.9%

Shares of ODFL opened at $217.58 on Wednesday. The stock has a market cap of $45.25 billion, a P/E ratio of 45.52, a P/E/G ratio of 4.41 and a beta of 1.17. The business’s 50 day moving average price is $218.05 and its 200-day moving average price is $194.12. 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 quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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

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.