XTX Topco Ltd Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

XTX Topco Ltd bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, HoldingsChannel reports. The fund bought 7,842 shares of the transportation company’s stock, valued at approximately $1,385,000.

Several other large investors also recently modified their holdings of the business. Middleton & Co. Inc. MA grew its position in shares of Old Dominion Freight Line by 0.5% in the 2nd quarter. Middleton & Co. Inc. MA now owns 26,508 shares of the transportation company’s stock valued at $4,681,000 after purchasing an additional 126 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Old Dominion Freight Line by 5.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,026 shares of the transportation company’s stock valued at $4,415,000 after buying an additional 1,359 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Old Dominion Freight Line by 1.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,760 shares of the transportation company’s stock valued at $1,194,000 after buying an additional 84 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its holdings in shares of Old Dominion Freight Line by 1.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 79,778 shares of the transportation company’s stock valued at $14,089,000 after buying an additional 1,448 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Old Dominion Freight Line during the second quarter worth $211,000. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ODFL. Barclays reduced their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Raymond James increased their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley cut their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.83.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 5.2 %

Shares of NASDAQ:ODFL opened at $193.97 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $42.15 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a 50-day simple moving average of $196.20 and a 200 day simple moving average of $196.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.