Boston Private Wealth LLC Increases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Boston Private Wealth LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,016 shares of the transportation company’s stock after acquiring an additional 130 shares during the quarter. Boston Private Wealth LLC’s holdings in Old Dominion Freight Line were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Moors & Cabot Inc. increased its holdings in Old Dominion Freight Line by 1,988.6% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the transportation company’s stock worth $26,000 after acquiring an additional 23,803 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth about $28,000. Dark Forest Capital Management LP purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth about $43,000. Newfound Research LLC increased its holdings in Old Dominion Freight Line by 17.9% in the 3rd quarter. Newfound Research LLC now owns 276 shares of the transportation company’s stock worth $79,000 after acquiring an additional 42 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its holdings in Old Dominion Freight Line by 157.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 335 shares of the transportation company’s stock worth $85,000 after acquiring an additional 205 shares during the last quarter. 71.02% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the company. KeyCorp lifted their price objective on Old Dominion Freight Line from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, November 30th. Zacks Investment Research downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, December 28th. Raymond James raised their target price on Old Dominion Freight Line from $345.00 to $380.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 30th. Benchmark assumed coverage on Old Dominion Freight Line in a research note on Friday, December 3rd. They issued a “hold” rating for the company. Finally, Stephens raised their target price on Old Dominion Freight Line from $360.00 to $385.00 in a research note on Tuesday, January 4th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $313.90.

In other news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $345.03, for a total transaction of $1,035,090.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $353.66, for a total value of $6,012,220.00. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.

Shares of Old Dominion Freight Line stock opened at $316.12 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.39. The business’s 50 day simple moving average is $349.48 and its two-hundred day simple moving average is $308.71. The stock has a market capitalization of $36.36 billion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01. Old Dominion Freight Line, Inc. has a one year low of $192.76 and a one year high of $373.58.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 27th. The transportation company reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.10. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.35% and a net margin of 19.22%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 EPS. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 8.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $0.80 annualized dividend and a dividend yield of 0.25%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.89%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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