Litman Gregory Wealth Management LLC Reduces Stake in Old Dominion Freight Line, Inc. $ODFL

Litman Gregory Wealth Management LLC reduced its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,605 shares of the transportation company’s stock after selling 6,108 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $4,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ODFL. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line in the second quarter worth $26,000. Rossby Financial LCC bought a new position in Old Dominion Freight Line in the 2nd quarter worth $28,000. Chilton Capital Management LLC bought a new position in Old Dominion Freight Line in the 2nd quarter worth $47,000. WPG Advisers LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth about $51,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $59,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the subject of a number of research reports. Citigroup reissued a “buy” rating and issued a $170.00 price target (up from $168.00) on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Stifel Nicolaus set a $173.00 target price on Old Dominion Freight Line and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Raymond James Financial restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $155.58.

Old Dominion Freight Line Price Performance

ODFL stock opened at $159.49 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50 day moving average price of $143.63 and a 200-day moving average price of $149.43. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.61. The firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 8.44 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is currently 22.54%.

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.