Prospera Private Wealth LLC Invests $132,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prospera Private Wealth LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, HoldingsChannel reports. The firm acquired 667 shares of the transportation company’s stock, valued at approximately $132,000.

Several other institutional investors have also bought and sold shares of ODFL. Sequoia Financial Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares during the period. Kinsale Capital Group Inc. lifted its position in Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after purchasing an additional 3,614 shares during the period. Truist Financial Corp lifted its position in Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares during the period. Whalen Wealth Management Inc. bought a new position in Old Dominion Freight Line during the 3rd quarter valued at $681,000. Finally, Ground Swell Capital LLC increased its position in shares of Old Dominion Freight Line by 262.6% during the 3rd quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after purchasing an additional 4,853 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of the 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Trading Up 2.2 %

Old Dominion Freight Line stock opened at $218.98 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $46.75 billion, a P/E ratio of 38.28, a P/E/G ratio of 4.43 and a beta of 0.99. The company’s fifty day simple moving average is $203.28 and its 200-day simple moving average is $192.11.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is 18.18%.

Analyst Ratings Changes

Several analysts have recently weighed in on ODFL shares. JPMorgan Chase & Co. decreased 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 note on Friday, September 6th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Raymond James upped their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $200.00.

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.