Argos Wealth Advisors LLC Takes Position in Old Dominion Freight Line, Inc. $ODFL

Argos Wealth Advisors LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,682 shares of the transportation company’s stock, valued at approximately $577,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares in the last quarter. Truist Financial Corp grew its position in Old Dominion Freight Line by 12.9% in the 3rd quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after purchasing an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. bought a new stake in Old Dominion Freight Line in the 3rd quarter worth about $4,307,000. Atlantic Union Bankshares Corp bought a new stake in Old Dominion Freight Line in the 3rd quarter worth about $1,999,000. Finally, Citigroup Inc. grew its position in Old Dominion Freight Line by 46.4% in the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after purchasing an additional 329,895 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 102,241 shares of company stock worth $19,874,065. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ODFL shares. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. The Goldman Sachs Group set a $216.00 price target on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Wells Fargo & Company raised their price target on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, TD Cowen restated a “hold” rating and set a $194.00 price target (up from $180.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $206.29.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $191.12 on Wednesday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $233.79. The stock has a market capitalization of $39.75 billion, a PE ratio of 39.98, a P/E/G ratio of 3.99 and a beta of 1.17. The company’s 50 day simple moving average is $200.88 and its two-hundred day simple moving average is $175.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

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.