J.W. Cole Advisors Inc. purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,011 shares of the transportation company's stock, valued at approximately $31,000.
Several other institutional investors have also recently added to or reduced their stakes in ODFL. Tcwp LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $30,000. NuWave Investment Management LLC purchased a new position in Old Dominion Freight Line in the 1st quarter valued at $47,000. GW&K Investment Management LLC acquired a new position in Old Dominion Freight Line in the 1st quarter valued at $50,000. Finally, Ellevest Inc. raised its position in Old Dominion Freight Line by 151.5% during the 1st quarter. Ellevest Inc. now owns 171 shares of the transportation company's stock worth $51,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 73.48% of the company's stock.
Get Old Dominion Freight Line alerts:Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Old Dominion Freight Line from a "peer perform" rating to an "underperform" rating in a report on Tuesday, July 12th. Morgan Stanley boosted their target price on Old Dominion Freight Line from $310.00 to $314.00 and gave the stock an "equal weight" rating in a research report on Friday, August 12th. Raymond James cut their target price on Old Dominion Freight Line from $305.00 to $265.00 in a research note on Friday, July 15th. Vertical Research downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating and set a $260.00 price target on the stock. in a research note on Wednesday, August 17th. Finally, UBS Group cut their price objective on Old Dominion Freight Line from $288.00 to $279.00 and set a "neutral" rating for the company in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $292.13.
Old Dominion Freight Line Stock Performance
Shares of ODFL opened at $248.03 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $231.31 and a 12-month high of $373.58. The stock has a market cap of $27.72 billion, a P/E ratio of 23.01, a PEG ratio of 1.35 and a beta of 1.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $282.06 and a two-hundred day moving average of $275.42.Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its earnings results on Wednesday, July 27th. The transportation company reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.09 by $0.21. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. Old Dominion Freight Line's revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 11.72 EPS for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.48%. The ex-dividend date was Tuesday, September 6th. Old Dominion Freight Line's payout ratio is 11.13%.
Insider Buying and Selling at Old Dominion Freight Line
In other news, Chairman David S. Congdon sold 6,246 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $300.14, for a total transaction of $1,874,674.44. Following the completion of the sale, the chairman now directly owns 809,569 shares in the company, valued at $242,984,039.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.30% of the stock is owned by insiders.
Old Dominion Freight Line Company Profile
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Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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