Principle Wealth Partners LLC trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,713 shares of the transportation company’s stock after selling 1,417 shares during the quarter. Principle Wealth Partners LLC’s holdings in Old Dominion Freight Line were worth $2,914,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. Price T Rowe Associates Inc. MD increased its stake in shares of Old Dominion Freight Line by 56.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,072,725 shares of the transportation company’s stock worth $2,325,158,000 after acquiring an additional 3,282,314 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Old Dominion Freight Line by 117.6% during the second quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company’s stock worth $195,129,000 after buying an additional 411,516 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Old Dominion Freight Line by 85.0% during the second quarter. Royal London Asset Management Ltd. now owns 685,764 shares of the transportation company’s stock worth $175,816,000 after buying an additional 315,164 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Old Dominion Freight Line by 39,577.3% during the first quarter. Renaissance Technologies LLC now owns 277,741 shares of the transportation company’s stock worth $82,956,000 after buying an additional 277,041 shares in the last quarter. Finally, WCM Investment Management LLC boosted its holdings in Old Dominion Freight Line by 12.8% during the third quarter. WCM Investment Management LLC now owns 1,550,188 shares of the transportation company’s stock worth $394,027,000 after buying an additional 176,368 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ODFL. KeyCorp boosted their price objective on shares of Old Dominion Freight Line from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Morgan Stanley boosted their price objective on shares of Old Dominion Freight Line from $310.00 to $340.00 and gave the stock an “equal weight” rating in a report on Monday, February 13th. Citigroup upped their price target on shares of Old Dominion Freight Line from $275.00 to $380.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Credit Suisse Group upped their price target on shares of Old Dominion Freight Line from $323.00 to $338.00 in a report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Old Dominion Freight Line from $290.00 to $396.00 and gave the company a “hold” rating in a report on Thursday, February 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $342.32.
Old Dominion Freight Line Trading Up 0.6 %
Shares of NASDAQ:ODFL traded up $2.22 during trading on Monday, reaching $357.28. The stock had a trading volume of 191,464 shares, compared to its average volume of 815,335. The business has a fifty day moving average price of $328.23 and a 200-day moving average price of $296.22. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. The stock has a market cap of $39.31 billion, a P/E ratio of 29.15, a PEG ratio of 3.52 and a beta of 1.08. Old Dominion Freight Line, Inc. has a fifty-two week low of $231.31 and a fifty-two week high of $381.81.
Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.68 by $0.24. Old Dominion Freight Line had a net margin of 22.00% and a return on equity of 38.60%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 12.04 earnings per share for the current fiscal year.
Old Dominion Freight Line Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.40 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.60 annualized dividend and a yield of 0.45%. Old Dominion Freight Line’s dividend payout ratio is 13.14%.
Insider Buying and Selling
In other news, Director Bradley R. Gabosch sold 2,700 shares of the stock in a transaction on Tuesday, February 14th. The shares were 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 owns 5,818 shares of the company’s stock, valued at $2,084,065.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Bradley R. Gabosch sold 2,700 shares of the stock in a transaction on Tuesday, February 14th. The shares were 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 owns 5,818 shares of the company’s stock, valued at $2,084,065.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David J. Bates sold 1,208 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 14,082 shares of the company’s stock, valued at approximately $4,854,206.22. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by company insiders.
Old Dominion Freight Line Profile
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.
