Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Prairie Advisory LLC

Prairie Advisory LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 109.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,324 shares of the transportation company’s stock after purchasing an additional 4,862 shares during the quarter. Prairie Advisory LLC’s holdings in Old Dominion Freight Line were worth $1,621,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Old Dominion Freight Line during the 2nd quarter worth about $3,416,007,000. Bank of New York Mellon Corp acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $543,289,000. Legal & General Group Plc bought a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $253,155,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Old Dominion Freight Line by 14.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock valued at $241,367,000 after acquiring an additional 142,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Old Dominion Freight Line by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,713 shares of the transportation company’s stock valued at $215,808,000 after acquiring an additional 12,245 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.1%

Shares of Old Dominion Freight Line stock traded down $0.14 during trading on Monday, hitting $187.58. 472,197 shares of the stock were exchanged, compared to its average volume of 1,992,280. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.20. The company has a fifty day moving average price of $188.60 and a 200-day moving average price of $207.72. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm earned $1.27 EPS. Old Dominion Freight Line’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.86 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ODFL shares. Wells Fargo & Company upgraded Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $235.00 to $250.00 in a report on Wednesday, July 8th. Evercore restated an “outperform” rating and issued a $243.00 price target (up from $237.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Susquehanna lowered their price target on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Finally, Truist Financial set a $230.00 price objective on Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $223.48.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by corporate insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.