Heartland Bank & Trust Co Acquires 1,580 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Heartland Bank & Trust Co lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 101.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,136 shares of the transportation company’s stock after purchasing an additional 1,580 shares during the period. Heartland Bank & Trust Co’s holdings in Old Dominion Freight Line were worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in Old Dominion Freight Line by 1.1% during the 4th quarter. California State Teachers Retirement System now owns 158,245 shares of the transportation company’s stock valued at $64,141,000 after acquiring an additional 1,762 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Old Dominion Freight Line by 29.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 114,614 shares of the transportation company’s stock valued at $46,460,000 after purchasing an additional 25,769 shares during the last quarter. NEOS Investment Management LLC raised its holdings in Old Dominion Freight Line by 7.3% in the fourth quarter. NEOS Investment Management LLC now owns 4,874 shares of the transportation company’s stock worth $1,976,000 after purchasing an additional 332 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 28,001 shares of the transportation company’s stock valued at $11,350,000 after buying an additional 158 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays lowered their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. TD Cowen reduced their target price 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. Finally, Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $201.83.

Insider Transactions at Old Dominion Freight Line

In related news, 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 completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on 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 sale, the chairman now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated 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 owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

Old Dominion Freight Line stock opened at $198.64 on Tuesday. The business’s 50-day moving average price is $196.29 and its 200 day moving average price is $194.68. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $43.16 billion, a price-to-earnings ratio of 34.97, 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.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its 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 net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 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.