Raymond James & Associates Has $10.58 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raymond James & Associates decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,246 shares of the transportation company’s stock after selling 107 shares during the quarter. Raymond James & Associates’ holdings in Old Dominion Freight Line were worth $10,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its stake in Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of 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 worth $27,000 after acquiring an additional 62 shares in the last quarter. Conning Inc. raised its holdings in shares of Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after acquiring an additional 64 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Old Dominion Freight Line by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 66 shares in the last quarter. Finally, Quent Capital LLC lifted its position in Old Dominion Freight Line by 5.5% in the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after acquiring an additional 67 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Raymond James increased their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen dropped their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of 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. Finally, Barclays lowered their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $200.88 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $195.55 and a two-hundred day simple moving average of $190.13. 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 market cap of $43.65 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99.

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 the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Old Dominion Freight Line 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 transaction 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 $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by 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.