Federated Hermes Inc. Sells 10,713 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Federated Hermes Inc. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 74.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,761 shares of the transportation company’s stock after selling 10,713 shares during the period. Federated Hermes Inc.’s holdings in Old Dominion Freight Line were worth $936,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP boosted its position in shares of Old Dominion Freight Line by 6.2% in the 3rd quarter. First Trust Advisors LP now owns 137,661 shares of the transportation company’s stock worth $34,246,000 after purchasing an additional 8,089 shares during the last quarter. Fortis Capital Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $728,000. Bayesian Capital Management LP bought a new stake in Old Dominion Freight Line during the third quarter worth about $624,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in Old Dominion Freight Line by 76.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 120,405 shares of the transportation company’s stock worth $29,953,000 after acquiring an additional 52,152 shares in the last quarter. Finally, Capital Fund Management S.A. raised its holdings in Old Dominion Freight Line by 419.9% during the third quarter. Capital Fund Management S.A. now owns 52,030 shares of the transportation company’s stock worth $12,944,000 after acquiring an additional 42,023 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bradley R. Gabosch sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $358.21, for a total value of $967,167.00. Following the completion of the sale, the director now directly owns 5,818 shares in the company, valued at approximately $2,084,065.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 2,700 shares of Old Dominion Freight Line stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $358.21, for a total transaction of $967,167.00. Following the transaction, the director now owns 5,818 shares of the company’s stock, valued at approximately $2,084,065.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David J. Bates sold 1,208 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $344.71, for a total transaction of $416,409.68. Following the transaction, the senior vice president now directly owns 14,082 shares in the company, valued at approximately $4,854,206.22. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.

Old Dominion Freight Line Stock Down 2.1 %

Shares of ODFL opened at $329.22 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $231.31 and a 52 week high of $381.81. The stock has a market capitalization of $36.22 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a fifty day moving average of $334.37 and a 200-day moving average of $298.03.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The transportation company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.24. Old Dominion Freight Line had a return on equity of 38.60% and a net margin of 22.00%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business posted $2.41 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 12.12 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.40 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, February 28th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 13.14%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ODFL shares. Susquehanna upped their target price on Old Dominion Freight Line from $260.00 to $330.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Robert W. Baird boosted their price target on Old Dominion Freight Line from $276.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. The Goldman Sachs Group boosted their price target on Old Dominion Freight Line from $262.00 to $297.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Stephens boosted their price target on Old Dominion Freight Line from $340.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Finally, Raymond James upped their target price on Old Dominion Freight Line from $335.00 to $395.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $342.32.

Old Dominion Freight Line Profile

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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.