Allworth Financial LP Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Allworth Financial LP lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,427 shares of the transportation company’s stock after purchasing an additional 226 shares during the period. Allworth Financial LP’s holdings in Old Dominion Freight Line were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $3,010,435,000 after acquiring an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its holdings in Old Dominion Freight Line by 59.0% in 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 last quarter. Capital World Investors boosted its holdings in 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 valued at $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after purchasing an additional 815,817 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ODFL shares. Barclays reduced their target price on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. 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, September 6th. The Goldman Sachs Group decreased their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Finally, Raymond James lifted their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $196.39.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the 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 completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,975 shares of company stock valued at $9,386,158 over the last 90 days. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $203.82 on Thursday. The company has a 50-day moving average price of $195.62 and a two-hundred day moving average price of $190.09. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 EPS 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. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

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.