Truist Financial Corp Acquires 10,046 Shares of Old Dominion Freight Line, Inc. $ODFL

Truist Financial Corp boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,119 shares of the transportation company’s stock after buying an additional 10,046 shares during the quarter. Truist Financial Corp’s holdings in Old Dominion Freight Line were worth $12,405,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ascent Group LLC grew its holdings in Old Dominion Freight Line by 440.7% during the third quarter. Ascent Group LLC now owns 8,564 shares of the transportation company’s stock valued at $1,206,000 after purchasing an additional 6,980 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Old Dominion Freight Line by 31.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock valued at $35,685,000 after buying an additional 60,279 shares in the last quarter. Vest Financial LLC grew its stake in shares of Old Dominion Freight Line by 66.8% during the 2nd quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock valued at $27,727,000 after acquiring an additional 68,410 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Old Dominion Freight Line by 186.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,018 shares of the transportation company’s stock worth $8,027,000 after acquiring an additional 37,134 shares in the last quarter. Finally, Capital Investment Counsel Inc raised its stake in Old Dominion Freight Line by 100.0% during the 3rd quarter. Capital Investment Counsel Inc now owns 12,302 shares of the transportation company’s stock worth $1,732,000 after acquiring an additional 6,152 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of recent analyst reports. Susquehanna reiterated a “neutral” rating and issued a $170.00 price target on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Robert W. Baird set a $170.00 target price on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Evercore ISI set a $150.00 price target on Old Dominion Freight Line and gave the company an “in-line” rating in a report on Monday, January 12th. Finally, Zacks Research downgraded Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Stock Up 0.4%

Shares of ODFL stock opened at $173.20 on Friday. The company’s fifty day simple moving average is $160.35 and its two-hundred day simple moving average is $150.45. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61. The stock has a market cap of $36.22 billion, a P/E ratio of 34.85, a PEG ratio of 8.58 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

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.