Truist Financial Corp Purchases 2,861 Shares of Old Dominion Freight Line, Inc. $ODFL

Truist Financial Corp increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,980 shares of the transportation company’s stock after purchasing an additional 2,861 shares during the period. Truist Financial Corp’s holdings in Old Dominion Freight Line were worth $14,266,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after buying an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $37,000. Torren Management LLC bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $41,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ODFL shares. Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the company an “overweight” rating in a research report on Thursday, April 30th. Barclays set a $210.00 target price on Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Stifel Nicolaus increased their price target on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Stephens restated an “overweight” rating and issued a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $206.46.

Old Dominion Freight Line Stock Down 1.3%

Shares of Old Dominion Freight Line stock opened at $198.06 on Friday. The stock’s fifty day moving average is $201.05 and its two-hundred day moving average is $174.68. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79. The company has a market capitalization of $41.25 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 4.11 and a beta of 1.17.

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, topping the consensus estimate 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 return on equity of 23.42% and a net margin of 18.46%.The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the sale, the chairman owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greg C. Gantt sold 22,107 shares of the business’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 sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 102,241 shares of company stock worth $19,874,065. Corporate insiders own 10.00% of the company’s stock.

About Old Dominion Freight Line

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.