Macquarie Group Ltd. Has $5.94 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Macquarie Group Ltd. decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 40.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,892 shares of the transportation company’s stock after selling 16,147 shares during the quarter. Macquarie Group Ltd.’s holdings in Old Dominion Freight Line were worth $5,943,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ODFL. Wade G W & Inc. lifted its holdings in shares of Old Dominion Freight Line by 2.6% during the second quarter. Wade G W & Inc. now owns 1,400 shares of the transportation company’s stock valued at $359,000 after acquiring an additional 36 shares during the period. D.A. Davidson & CO. boosted its position in Old Dominion Freight Line by 2.1% in the third quarter. D.A. Davidson & CO. now owns 1,765 shares of the transportation company’s stock valued at $439,000 after buying an additional 37 shares in the last quarter. Signaturefd LLC boosted its position in Old Dominion Freight Line by 1.7% in the third quarter. Signaturefd LLC now owns 2,276 shares of the transportation company’s stock valued at $566,000 after buying an additional 38 shares in the last quarter. Texas Permanent School Fund grew its stake in Old Dominion Freight Line by 0.4% during the second quarter. Texas Permanent School Fund now owns 12,127 shares of the transportation company’s stock worth $3,108,000 after buying an additional 44 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Old Dominion Freight Line by 2.6% during the third quarter. CWM LLC now owns 1,734 shares of the transportation company’s stock worth $431,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.

Old Dominion Freight Line Stock Down 0.9 %

Shares of Old Dominion Freight Line stock opened at $349.80 on Wednesday. The business has a fifty day simple moving average of $330.83 and a 200 day simple moving average of $296.94. The stock has a market cap of $38.49 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 12 month low of $231.31 and a 12 month high of $381.81.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its earnings results on Wednesday, February 1st. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.24. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 38.60% and a net margin of 22.00%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 12.12 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Tuesday, February 28th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.30. Old Dominion Freight Line’s dividend payout ratio is presently 13.14%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ODFL. Robert W. Baird boosted their target price on Old Dominion Freight Line from $276.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. UBS Group increased their target price on Old Dominion Freight Line from $284.00 to $388.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Raymond James lifted their price target on Old Dominion Freight Line from $335.00 to $395.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $260.00 to $330.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Finally, Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $310.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Monday, February 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $342.32.

Insiders Place Their Bets

In other news, SVP David J. Bates sold 1,208 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $344.71, for a total value of $416,409.68. Following the completion of the transaction, the senior vice president now owns 14,082 shares of the company’s stock, valued at approximately $4,854,206.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Bradley R. Gabosch sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $358.21, for a total transaction of $967,167.00. Following the sale, the director now owns 5,818 shares of the company’s stock, valued at $2,084,065.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David J. Bates sold 1,208 shares of Old Dominion Freight Line stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $344.71, for a total value of $416,409.68. Following the transaction, the senior vice president now owns 14,082 shares in the company, valued at approximately $4,854,206.22. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.

About Old Dominion Freight Line

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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.