Premier Path Wealth Partners LLC Has $868,000 Stock Position in Old Dominion Freight Line, Inc. $ODFL

Premier Path Wealth Partners LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 207.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,441 shares of the transportation company’s stock after purchasing an additional 2,997 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Old Dominion Freight Line were worth $868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Reflection Asset Management bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $28,000. DT Investment Partners LLC lifted its holdings in shares of Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares during the last quarter. DV Equities LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $40,000. Torren Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $50,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.6%

NASDAQ ODFL opened at $217.96 on Thursday. The company has a market capitalization of $45.33 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 4.34 and a beta of 1.18. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock has a fifty day simple moving average of $218.73 and a 200 day simple moving average of $196.84.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is currently 24.27%.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ODFL has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Rothschild & Co Redburn decreased their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a research note on Tuesday, May 12th. Stephens reiterated an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $235.00 price target (up from $209.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $218.57.

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.