Kovitz Investment Group Partners LLC Acquires 13,805 Shares of Old Dominion Freight Line, Inc. $ODFL

Kovitz Investment Group Partners LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 251.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,300 shares of the transportation company’s stock after buying an additional 13,805 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Old Dominion Freight Line were worth $3,026,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. DT Investment Partners LLC lifted its stake in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $37,000. DV Equities LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $40,000. Torren Management LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $50,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $235.00 price objective on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a research report on Thursday, April 30th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group set a $216.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Thursday, April 30th. TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $217.30.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $221.04 on Friday. The stock has a market capitalization of $45.97 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 4.44 and a beta of 1.17. The firm’s 50 day moving average price is $217.66 and its 200-day moving average price is $192.73. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is owned by corporate insiders.

About Old Dominion Freight Line

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.