Wealthcare Advisory Partners LLC Cuts Position in Old Dominion Freight Line, Inc. $ODFL

Wealthcare Advisory Partners LLC decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,486 shares of the transportation company’s stock after selling 11,450 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Old Dominion Freight Line were worth $913,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after acquiring an additional 5,866 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after acquiring an additional 67 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Old Dominion Freight Line by 31.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,717 shares of the transportation company’s stock worth $279,000 after purchasing an additional 411 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Old Dominion Freight Line by 1.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 80,895 shares of the transportation company’s stock worth $13,129,000 after purchasing an additional 1,231 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 3.2%

NASDAQ:ODFL opened at $201.39 on Friday. The company has a market cap of $42.11 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 9.74 and a beta of 1.28. The company has a 50 day simple moving average of $175.17 and a two-hundred day simple moving average of $154.30. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $208.74.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is presently 23.19%.

Insider Activity at Old Dominion Freight Line

In other news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director owned 11,278 shares in the company, valued at $2,190,977.06. This represents a 21.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ODFL shares. Susquehanna restated a “neutral” rating and set a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 11th. BMO Capital Markets reiterated an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday. Bank of America set a $165.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, December 18th. Stephens reaffirmed an “overweight” rating and issued a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $189.88.

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.