J. Safra Sarasin Holding AG Buys Shares of 4,463 Old Dominion Freight Line, Inc. $ODFL

J. Safra Sarasin Holding AG purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,463 shares of the transportation company’s stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in 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 worth $499,007,000 after acquiring an additional 622,275 shares during the period. Truist Financial Corp raised its position in Old Dominion Freight Line by 12.9% in the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock valued at $12,405,000 after purchasing an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. purchased a new stake in Old Dominion Freight Line in the third quarter valued at $4,307,000. Atlantic Union Bankshares Corp acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $1,999,000. Finally, Citigroup Inc. grew its holdings in shares of Old Dominion Freight Line by 46.4% during the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after purchasing an additional 329,895 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Susquehanna reaffirmed a “neutral” rating and issued a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $168.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $195.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $191.13.

Old Dominion Freight Line Trading Down 0.8%

ODFL stock opened at $198.00 on Friday. The company has a market capitalization of $41.27 billion, a PE ratio of 40.99, a P/E/G ratio of 4.21 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $221.63. The business’s fifty day moving average price is $191.31 and its 200 day moving average price is $162.93.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a dividend of $0.29 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Insider Activity

In other news, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently 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.