Peregrine Asset Advisers Inc. Has $5.19 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Peregrine Asset Advisers Inc. lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 56.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,546 shares of the transportation company’s stock after purchasing an additional 9,593 shares during the quarter. Old Dominion Freight Line accounts for approximately 1.4% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 20th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Old Dominion Freight Line were worth $5,187,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its position in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC increased its stake in Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP bought a new stake in Old Dominion Freight Line during the 2nd quarter worth about $7,478,000. Jump Financial LLC bought a new stake in Old Dominion Freight Line during the 2nd quarter worth about $2,891,000. Finally, AXA S.A. boosted its stake in shares of Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares in the company, valued at approximately $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 can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Evercore upgraded Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a report on Wednesday. Citigroup lowered Old Dominion Freight Line from a “neutral” rating to a “sell” rating and upped their target price for the stock from $225.00 to $228.00 in a report on Monday, June 15th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group restated 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, Morgan Stanley set a $235.00 price target on Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $218.57.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $217.65 on Friday. The company has a fifty day moving average price of $218.60 and a two-hundred day moving average price of $197.25. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The stock has a market cap of $45.26 billion, a P/E ratio of 45.53, a P/E/G ratio of 4.37 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. Old Dominion Freight Line’s revenue for the quarter 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. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

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.