Truist Financial Corp Purchases 10,046 Shares of Old Dominion Freight Line, Inc. $ODFL

Truist Financial Corp lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.9% in the third quarter, HoldingsChannel reports. The firm owned 88,119 shares of the transportation company’s stock after purchasing an additional 10,046 shares during the quarter. Truist Financial Corp’s holdings in Old Dominion Freight Line were worth $12,405,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Stonegate Investment Group LLC lifted its position in Old Dominion Freight Line by 54.6% during the third quarter. Stonegate Investment Group LLC now owns 2,070 shares of the transportation company’s stock valued at $291,000 after purchasing an additional 731 shares during the last quarter. Bensler LLC raised its position in shares of Old Dominion Freight Line by 2.7% during the 3rd quarter. Bensler LLC now owns 54,071 shares of the transportation company’s stock valued at $7,612,000 after buying an additional 1,444 shares in the last quarter. Markel Group Inc. raised its position in shares of Old Dominion Freight Line by 4.8% during the 3rd quarter. Markel Group Inc. now owns 358,750 shares of the transportation company’s stock valued at $50,505,000 after buying an additional 16,300 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 51,286 shares of the transportation company’s stock valued at $7,248,000 after acquiring an additional 221 shares during the last quarter. Finally, Whittier Trust Co. grew its position in Old Dominion Freight Line by 1.2% in the third quarter. Whittier Trust Co. now owns 100,255 shares of the transportation company’s stock worth $14,169,000 after acquiring an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.4%

Shares of ODFL opened at $173.20 on Friday. The firm has a fifty day moving average price of $160.35 and a 200-day moving average price of $150.45. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $36.22 billion, a P/E ratio of 34.85, a P/E/G ratio of 8.58 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $181.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Rothschild Redb upgraded Old Dominion Freight Line to a “strong sell” rating in a research report on Wednesday, November 26th. Evercore ISI set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an “in-line” rating in a research report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $163.33.

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.