3,000 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the transportation company’s stock, valued at approximately $422,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $371,961,000. JPMorgan Chase & Co. raised 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 valued at $499,007,000 after buying an additional 622,275 shares during the last quarter. First Trust Advisors LP lifted its stake in Old Dominion Freight Line by 63.8% in the 2nd quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock valued at $246,867,000 after acquiring an additional 592,605 shares in the last quarter. Vanguard Group Inc. boosted its position in Old Dominion Freight Line by 2.2% during 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. Finally, Fisher Funds Management LTD acquired a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $65,951,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $207.94 on Wednesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.15. The company has a market capitalization of $43.34 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 10.36 and a beta of 1.23. The company has a 50-day simple moving average of $181.08 and a 200 day simple moving average of $156.93.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid 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 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 23.19%.

Analyst Ratings Changes

A number of analysts have recently commented on ODFL shares. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Robert W. Baird cut shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $166.00 to $204.00 in a research report on Thursday, February 5th. Raymond James Financial increased their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Stephens restated an “overweight” rating and issued a $232.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $190.50.

Insider Buying and Selling at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 80,134 shares of company stock valued at $15,640,132 in the last quarter. 10.00% of the stock is currently owned by insiders.

Old Dominion Freight Line Company 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.