Litman Gregory Wealth Management LLC Sells 6,108 Shares of Old Dominion Freight Line, Inc. $ODFL

Litman Gregory Wealth Management LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,605 shares of the transportation company’s stock after selling 6,108 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $4,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in Old Dominion Freight Line in the 2nd quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $28,000. Chilton Capital Management LLC purchased a new position in shares of Old Dominion Freight Line in the second quarter worth $47,000. WPG Advisers LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $51,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter valued at $59,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $159.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $33.35 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 8.44 and a beta of 1.27. The firm’s 50 day moving average price is $143.63 and its 200-day moving average price is $149.43. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61.

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

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI reduced their price objective on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Finally, Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $155.58.

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.