Old Dominion Freight Line, Inc. $ODFL Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 570,982 shares of the transportation company’s stock after purchasing an additional 135,871 shares during the quarter. Natixis Advisors LLC owned about 0.27% of Old Dominion Freight Line worth $89,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares during the period. Wilson Asset Management International PTY Ltd. acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $4,307,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $1,999,000. Citigroup Inc. increased its stake in shares of Old Dominion Freight Line by 46.4% in the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock valued at $146,507,000 after purchasing an additional 329,895 shares during the period. Finally, Value Partners Investments Inc. boosted its holdings in shares of Old Dominion Freight Line by 38.7% in the fourth quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock valued at $3,157,000 after acquiring an additional 5,610 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $229.08 on Wednesday. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 4.68 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $233.79. The company has a 50 day moving average price of $205.73 and a 200 day moving average price of $182.95.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ODFL shares. Evercore set a $219.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stephens reiterated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. The Goldman Sachs Group set a $216.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Thursday, April 30th. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Finally, Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $207.08.

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.