Sienna Gestion Lowers Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sienna Gestion lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 48.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 675 shares of the transportation company’s stock after selling 645 shares during the quarter. Sienna Gestion’s holdings in Old Dominion Freight Line were worth $119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in shares of Old Dominion Freight Line by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after purchasing an additional 27 shares during the last quarter. Partners Capital Investment Group LLP boosted its stake in Old Dominion Freight Line by 6.1% during the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock worth $283,000 after buying an additional 40 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock valued at $1,858,000 after acquiring an additional 47 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 54 shares during the period. Finally, Meridian Wealth Management LLC raised its stake in shares of Old Dominion Freight Line by 6.2% in the 1st quarter. Meridian Wealth Management LLC now owns 954 shares of the transportation company’s stock valued at $209,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 3.9 %

ODFL opened at $204.52 on Friday. The business’s 50-day simple moving average is $195.84 and its 200-day simple moving average is $195.95. The company has a market cap of $44.44 billion, a P/E ratio of 36.01, a PEG ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $1.33 EPS. Old Dominion Freight Line’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ODFL shares. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Susquehanna raised their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.