Commonwealth Equity Services LLC Has $3.67 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Commonwealth Equity Services LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 20,804 shares of the transportation company’s stock after selling 980 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Old Dominion Freight Line were worth $3,674,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $194,000. Jump Financial LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $721,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,735 shares of the transportation company’s stock valued at $4,351,000 after acquiring an additional 152 shares in the last quarter. Ieq Capital LLC increased its position in Old Dominion Freight Line by 5.1% during the fourth quarter. Ieq Capital LLC now owns 5,336 shares of the transportation company’s stock worth $2,163,000 after acquiring an additional 260 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Old Dominion Freight Line by 1.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ODFL shares. Morgan Stanley dropped their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.00.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $189.78 on Tuesday. The company has a market capitalization of $41.24 billion, a PE ratio of 33.41, a P/E/G ratio of 3.83 and a beta of 0.99. 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 stock has a 50-day moving average price of $194.31 and a two-hundred day moving average price of $197.16. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Analysts expect that Old Dominion Freight Line, Inc. will post 5.65 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the business’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 transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction 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 transaction, 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 SEC, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the 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 owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

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.