LVW Advisors LLC Buys 2,687 Shares of Old Dominion Freight Line, Inc. $ODFL

LVW Advisors LLC increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 76.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,193 shares of the transportation company’s stock after buying an additional 2,687 shares during the period. LVW Advisors LLC’s holdings in Old Dominion Freight Line were worth $971,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ODFL. Vanguard Group Inc. grew its position in shares of 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 valued at $3,273,546,000 after acquiring an additional 494,674 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of 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 during the period. Norges Bank purchased a new position in Old Dominion Freight Line in the second quarter valued at approximately $371,961,000. Finally, Boston Partners purchased a new position in Old Dominion Freight Line in the third quarter valued at approximately $292,599,000. Institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,134 shares of company stock worth $15,640,132 in 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 $188.34 on Friday. The stock has a market capitalization of $39.25 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 3.96 and a beta of 1.23. The company’s fifty day simple moving average is $189.70 and its two-hundred day simple moving average is $161.68. 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 posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.16 annualized dividend and a 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 24.02%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent research reports. Barclays set a $185.00 target price on Old Dominion Freight Line in a research report on Thursday, February 5th. Stifel Nicolaus set a $217.00 price target on Old Dominion Freight Line in a research report on Thursday, February 5th. Raymond James Financial increased their price target on 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. Evercore lifted their price objective on Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Finally, Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective on the stock in a research note on Thursday, February 12th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.