Segment Wealth Management LLC Sells 810 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segment Wealth Management LLC lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,944 shares of the transportation company’s stock after selling 810 shares during the period. Segment Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,578,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ODFL. Avanza Fonder AB purchased a new position in Old Dominion Freight Line in the 4th quarter worth $3,741,000. Toronto Dominion Bank grew its position in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Sequoia Financial Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $2,109,000. 77.82% of the stock is currently owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODFL shares. Barclays decreased their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup lifted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $201.50.

Old Dominion Freight Line Stock Performance

ODFL opened at $189.55 on Tuesday. The company has a market cap of $40.47 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 5.05 and a beta of 1.05. The firm’s fifty day simple moving average is $198.84 and its two-hundred day simple moving average is $197.87. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Company 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.