CreativeOne Wealth LLC Sells 4,674 Shares of Old Dominion Freight Line, Inc. $ODFL

CreativeOne Wealth LLC trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 37.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,658 shares of the transportation company’s stock after selling 4,674 shares during the period. CreativeOne Wealth LLC’s holdings in Old Dominion Freight Line were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ODFL. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the period. Empowered Funds LLC boosted its stake in Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares during the period. Prospera Financial Services Inc purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $1,286,000. Campbell & CO Investment Adviser LLC purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $305,000. Finally, Allworth Financial LP raised its position in shares of Old Dominion Freight Line by 463.7% during the second quarter. Allworth Financial LP now owns 11,421 shares of the transportation company’s stock valued at $1,854,000 after buying an additional 9,395 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares in the company, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 80,134 shares of company stock worth $15,640,132. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research analyst reports. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Bank of America set a $165.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $168.00 to $182.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $209.00 price target (up from $190.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Finally, Robert W. Baird downgraded shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $166.00 to $204.00 in a report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $191.08.

Old Dominion Freight Line Stock Down 3.2%

Old Dominion Freight Line stock opened at $188.78 on Thursday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $221.63. The firm’s fifty day moving average is $186.11 and its 200 day moving average is $158.89. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 4.10 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $1.23 EPS. The business’s revenue was down 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s payout ratio is 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.