Life Cycle Investment Partners Ltd Buys Shares of 1,203,130 Old Dominion Freight Line, Inc. $ODFL

Life Cycle Investment Partners Ltd bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,203,130 shares of the transportation company’s stock, valued at approximately $188,651,000. Old Dominion Freight Line makes up about 1.3% of Life Cycle Investment Partners Ltd’s investment portfolio, making the stock its 20th largest position. Life Cycle Investment Partners Ltd owned approximately 0.58% of Old Dominion Freight Line as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 21.3% during 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 in the last quarter. Truist Financial Corp increased its position in shares of Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after acquiring an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $4,307,000. Atlantic Union Bankshares Corp bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $1,999,000. Finally, Citigroup Inc. increased its position in shares of Old Dominion Freight Line by 46.4% during the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after acquiring an additional 329,895 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Rothschild & Co Redburn lowered their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. Finally, Morgan Stanley set a $235.00 price objective on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. 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 company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $206.29.

Old Dominion Freight Line Trading Up 1.3%

Old Dominion Freight Line stock opened at $210.47 on Friday. The company has a market cap of $43.77 billion, a P/E ratio of 44.03, a price-to-earnings-growth ratio of 4.31 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 fifty day simple moving average of $201.08 and a 200 day simple moving average of $179.25.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results 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. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.19 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given 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 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Insiders Place Their Bets

In related news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value 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 approximately $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction on 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 owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The SEC filing for this sale provides additional information. 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.