Marshall Financial Group LLC Has $330,000 Holdings in Old Dominion Freight Line, Inc. $ODFL

Marshall Financial Group LLC lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 82.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,107 shares of the transportation company’s stock after selling 10,234 shares during the quarter. Marshall Financial Group LLC’s holdings in Old Dominion Freight Line were worth $330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after acquiring an additional 622,275 shares during the period. Truist Financial Corp boosted its position in shares of Old Dominion Freight Line by 12.9% during the 3rd quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after acquiring an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. bought a new position in Old Dominion Freight Line in the third quarter valued at approximately $4,307,000. Atlantic Union Bankshares Corp bought a new position in Old Dominion Freight Line in the third quarter valued at approximately $1,999,000. Finally, Citigroup Inc. raised its position in Old Dominion Freight Line by 46.4% during the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock valued at $146,507,000 after purchasing an additional 329,895 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ODFL. TD Cowen upped their target price on Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. 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. BMO Capital Markets reissued an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Truist Financial set a $225.00 price objective on Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $216.00 price objective (up from $196.00) on shares of Old Dominion Freight Line in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $191.08.

Insider Buying and Selling

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 52,000 shares of the company’s 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 directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,134 shares of company stock worth $15,640,132 in the last 90 days. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $187.70 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63. The company has a market cap of $39.12 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 3.86 and a beta of 1.23. The firm has a 50 day simple moving average of $188.68 and a 200 day simple moving average of $160.70.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.29 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.02%.

Old Dominion Freight Line 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.