Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,231 shares of the transportation company’s stock after purchasing an additional 3,862 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Old Dominion Freight Line were worth $6,554,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $30,000. Heritage Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 140 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 70 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $40,000. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Old Dominion Freight Line by 56.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock worth $52,000 after purchasing an additional 63 shares during the last quarter. Finally, Carmel Capital Partners LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $72,000. Hedge funds and other institutional investors own 72.14% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Thomas A. Stith III sold 225 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $411.66, for a total value of $92,623.50. Following the completion of the sale, the director now owns 1,342 shares of the company’s stock, valued at $552,447.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Thomas A. Stith III sold 225 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $411.66, for a total transaction of $92,623.50. Following the completion of the sale, the director now directly owns 1,342 shares in the company, valued at approximately $552,447.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Steven W. Hartsell sold 403 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $405.33, for a total value of $163,347.99. Following the sale, the senior vice president now directly owns 491 shares in the company, valued at approximately $199,017.03. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Down 0.7 %

Shares of Old Dominion Freight Line stock opened at $427.37 on Friday. Old Dominion Freight Line, Inc. has a one year low of $240.00 and a one year high of $432.40. The company has a market cap of $46.70 billion, a P/E ratio of 37.13, a PEG ratio of 4.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a fifty day moving average of $392.64 and a two-hundred day moving average of $350.85.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. Old Dominion Freight Line had a net margin of 21.49% and a return on equity of 34.58%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 10.65 earnings per share for the current year.

Old Dominion Freight Line declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 26th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.37%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 13.90%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Raymond James lifted their price target on Old Dominion Freight Line from $385.00 to $440.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Evercore ISI boosted their target price on Old Dominion Freight Line from $350.00 to $363.00 in a research note on Tuesday, June 27th. Barclays increased their price target on shares of Old Dominion Freight Line from $375.00 to $410.00 and gave the company an “equal weight” rating in a research note on Friday, July 28th. VNET Group restated a “maintains” rating on shares of Old Dominion Freight Line in a research report on Friday, June 30th. Finally, Citigroup upped their target price on shares of Old Dominion Freight Line from $340.00 to $376.00 and gave the company a “neutral” rating in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $365.60.

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.