Janney Montgomery Scott LLC Acquires 2,720 Shares of Old Dominion Freight Line, Inc. $ODFL

Janney Montgomery Scott LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,426 shares of the transportation company’s stock after buying an additional 2,720 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Old Dominion Freight Line were worth $7,899,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ODFL. Norges Bank bought a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $444,983,000. Boston Partners purchased a new stake in Old Dominion Freight Line during the third quarter valued at approximately $292,599,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after purchasing an additional 1,761,511 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after purchasing an additional 1,362,697 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $188,651,000. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling 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 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 sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODFL. Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Tuesday, June 9th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Barclays boosted their price objective on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Finally, UBS Group increased their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $218.57.

Old Dominion Freight Line Stock Performance

ODFL opened at $217.65 on Friday. The stock has a market cap of $45.26 billion, a price-to-earnings ratio of 45.53, a P/E/G ratio of 4.36 and a beta of 1.18. The stock’s 50 day moving average price is $218.55 and its 200-day moving average price is $197.40. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $1.19 EPS. Old Dominion Freight Line’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.29 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

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.