Alpha Omega Wealth Management LLC Sells 1,288 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Alpha Omega Wealth Management LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.6% during the third quarter, Holdings Channel reports. The institutional investor owned 21,582 shares of the transportation company’s stock after selling 1,288 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $4,287,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ODFL. Vanguard Group Inc. boosted its holdings in Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.3 %

Shares of NASDAQ ODFL opened at $190.93 on Friday. The stock has a market cap of $41.49 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. 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 $196.29 and a 200 day moving average of $194.56.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.33 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Transactions at Old Dominion Freight Line

In other 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 of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $6,033,967.50. Following the sale, the chairman now directly 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 brokerages have weighed in on ODFL. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Susquehanna boosted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. 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 research report on Thursday, September 5th. Finally, Raymond James boosted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $201.39.

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.