2,590 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,590 shares of the transportation company’s stock, valued at approximately $365,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Old Dominion Freight Line by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after acquiring an additional 494,674 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after acquiring an additional 622,275 shares during the last quarter. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $371,961,000. Lazard Asset Management LLC grew its holdings in shares of Old Dominion Freight Line by 11.6% in the second quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after purchasing an additional 200,681 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Old Dominion Freight Line by 9.7% during the second quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock worth $251,046,000 after purchasing an additional 137,068 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the sale, the chairman owned 712,800 shares of the company’s stock, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,134 shares of company stock valued at $15,640,132 over the last quarter. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $195.02 on Wednesday. The firm has a market cap of $40.65 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 4.14 and a beta of 1.23. The company has a 50-day moving average of $185.47 and a two-hundred day moving average of $158.68. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $221.63.

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, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a $0.29 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is 24.02%.

Analysts Set New Price Targets

A number of brokerages have commented on ODFL. Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Stifel Nicolaus set a $217.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Citigroup reiterated a “neutral” rating and issued a $216.00 price objective (up from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $191.08.

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.