Raymond James & Associates Purchases 73 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raymond James & Associates grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,622 shares of the transportation company’s stock after buying an additional 73 shares during the period. Raymond James & Associates’ holdings in Old Dominion Freight Line were worth $9,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Canton Hathaway LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $26,000. CoreCap Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $29,000. Glassman Wealth Services boosted its stake in shares of Old Dominion Freight Line by 105.3% in the 2nd quarter. Glassman Wealth Services now owns 117 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $31,000. Finally, CVA Family Office LLC boosted its stake in shares of Old Dominion Freight Line by 61.9% in the 2nd quarter. CVA Family Office LLC now owns 170 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Old Dominion Freight Line Stock Up 0.1 %

Shares of Old Dominion Freight Line stock opened at $313.25 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The company has a 50-day moving average of $294.72 and a 200 day moving average of $280.69. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.87 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 1 year low of $231.31 and a 1 year high of $333.71.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The transportation company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.06 by $0.30. Old Dominion Freight Line had a net margin of 21.56% and a return on equity of 37.27%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 11.92 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date was Tuesday, December 6th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.28%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Old Dominion Freight Line from $267.00 to $290.00 in a research note on Monday, November 28th. Wells Fargo & Company increased their price target on shares of Old Dominion Freight Line from $305.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, January 4th. Credit Suisse Group increased their price target on shares of Old Dominion Freight Line from $285.00 to $292.00 and gave the company a “neutral” rating in a research report on Thursday, October 27th. Citigroup increased their price target on shares of Old Dominion Freight Line to $275.00 in a research report on Thursday, October 13th. Finally, Susquehanna dropped their price target on shares of Old Dominion Freight Line from $265.00 to $260.00 in a research report on Thursday, October 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $285.33.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 32,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the sale, the chairman now owns 858,861 shares of the company’s stock, valued at approximately $269,639,410.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.30% of the stock is currently owned by insiders.

Old Dominion Freight Line Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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