2,590 Shares in Old Dominion Freight Line, Inc. $ODFL Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,590 shares of the transportation company’s stock, valued at approximately $365,000.

A number of other large investors also recently bought and sold shares of ODFL. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares in the last quarter. Norges Bank purchased a new stake in Old Dominion Freight Line during the second quarter worth $371,961,000. Lazard Asset Management LLC grew its position in Old Dominion Freight Line by 11.6% during the second quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after buying an additional 200,681 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Old Dominion Freight Line by 9.7% during the second quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after buying an additional 137,068 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $195.02 on Wednesday. The business has a fifty day moving average price of $185.47 and a 200 day moving average price of $158.68. The company has a market cap of $40.65 billion, a P/E ratio of 40.38, a P/E/G ratio of 4.14 and a beta of 1.23. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Stockholders of record on Wednesday, March 4th will be paid a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is 24.02%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ODFL shares. Barclays set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 target price on the stock. in a research report on Thursday, February 5th. Evercore lifted their price target on Old Dominion Freight Line from $150.00 to $200.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Stephens reaffirmed an “overweight” rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $191.08.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by insiders.

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.