Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 47.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,487 shares of the transportation company’s stock after selling 4,067 shares during the period. Great Valley Advisor Group Inc.’s holdings in Old Dominion Freight Line were worth $892,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its position in Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after acquiring an additional 54 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Conning Inc. lifted its holdings in shares of Old Dominion Freight Line by 5.8% during the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Old Dominion Freight Line by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after buying an additional 66 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after buying an additional 67 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,000 shares of company stock worth $4,028,510. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 2.2 %

ODFL stock opened at $225.11 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $204.50 and a 200-day simple moving average of $192.81. The stock has a market capitalization of $48.06 billion, a P/E ratio of 39.35, a P/E/G ratio of 4.61 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business earned $1.54 EPS. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent research reports. Stephens reissued an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Citigroup boosted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.