830 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Purchased by Front Row Advisors LLC

Front Row Advisors LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 830 shares of the transportation company’s stock, valued at approximately $147,000.

A number of other large investors have also recently modified their holdings of ODFL. Vanguard Group Inc. increased its position in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors raised its position in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Capital World Investors lifted its holdings in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after acquiring an additional 815,817 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on ODFL shares. Raymond James lifted their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Stephens reiterated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Evercore ISI reissued an “in-line” rating and set a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Finally, Morgan Stanley cut their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $201.83.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $196.71 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $42.74 billion, a P/E ratio of 34.63, a P/E/G ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a 50-day moving average of $196.22 and a 200-day moving average of $194.94.

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 for the quarter, topping 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 business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $1.33 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Old Dominion Freight Line Profile

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.