Legal & General Group Plc Sells 38,158 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Legal & General Group Plc lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,664,691 shares of the transportation company’s stock after selling 38,158 shares during the quarter. Legal & General Group Plc’s holdings in Old Dominion Freight Line were worth $293,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the second quarter worth $25,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $27,000. Farmers & Merchants Investments Inc. grew its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. increased its holdings in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $29,000. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target 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. TD Cowen dropped their price target on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Bank of America cut their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Finally, Susquehanna increased their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $201.83.

Insider Transactions at Old Dominion Freight Line

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

Old Dominion Freight Line Trading Up 0.7 %

Shares of ODFL stock opened at $196.71 on Friday. The company has a market capitalization of $42.74 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The business’s fifty day moving average is $196.22 and its 200 day moving average is $194.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share 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 analysts’ expectations of $1.50 billion. During the same quarter last year, the firm posted $1.33 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Old Dominion Freight Line Company 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.