D.A. Davidson & CO. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 39.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,786 shares of the transportation company’s stock after selling 1,150 shares during the period. D.A. Davidson & CO.’s holdings in Old Dominion Freight Line were worth $533,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Tcwp LLC acquired a new position in Old Dominion Freight Line during the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $30,000. Pittenger & Anderson Inc. acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $37,000. Manchester Capital Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $40,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $47,000. 73.48% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ODFL has been the topic of several recent research reports. Credit Suisse Group raised their price objective on Old Dominion Freight Line from $282.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. Citigroup set a $270.00 price objective on Old Dominion Freight Line in a report on Tuesday, July 19th. Raymond James cut their price objective on Old Dominion Freight Line from $305.00 to $265.00 in a report on Friday, July 15th. Susquehanna Bancshares lowered their target price on Old Dominion Freight Line from $285.00 to $270.00 in a research report on Thursday, July 28th. Finally, Wolfe Research lowered Old Dominion Freight Line from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $292.13.
Old Dominion Freight Line Stock Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last issued its earnings results on Wednesday, July 27th. The transportation company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.21. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 11.8 earnings per share for the current fiscal year.
Old Dominion Freight Line Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, September 6th. Old Dominion Freight Line’s payout ratio is 11.13%.
Insider Activity at Old Dominion Freight Line
In related news, Chairman David S. Congdon sold 6,246 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total value of $1,874,674.44. Following the completion of the sale, the chairman now directly owns 809,569 shares of the company’s stock, valued at approximately $242,984,039.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.30% of the stock is currently owned by corporate insiders.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
- Get a free copy of the StockNews.com research report on Old Dominion Freight Line (ODFL)
- 3 Low Beta Defensive Stocks for a Tough Market
- It Could Be a September to Remember for These 3 Stocks
- Can Roblox Reverse its Falling Bookings Amid Rising Engagements
- Peak Inflation Sets the Bottom for Brinker International Stock
- Broadcom Bounces From Institutional Bottom
Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.