Moran Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 21.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,544 shares of the transportation company’s stock after acquiring an additional 7,431 shares during the quarter. Moran Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $8,313,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ODFL. Value Partners Investments Inc. grew its holdings in shares of Old Dominion Freight Line by 38.7% during the 4th quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock valued at $3,157,000 after purchasing an additional 5,610 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Old Dominion Freight Line in the fourth quarter worth $13,322,000. Waterfront Wealth Inc. bought a new stake in Old Dominion Freight Line in the fourth quarter worth $1,430,000. Quantum Capital Management LLC NJ boosted its position in Old Dominion Freight Line by 26.2% during the third quarter. Quantum Capital Management LLC NJ now owns 594,391 shares of the transportation company’s stock valued at $83,678,000 after buying an additional 123,271 shares during the period. Finally, AustralianSuper Pty Ltd boosted its position in Old Dominion Freight Line by 955.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after buying an additional 67,898 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.
Old Dominion Freight Line Price Performance
Shares of Old Dominion Freight Line stock opened at $217.65 on Friday. The company’s fifty day simple moving average is $218.55 and its two-hundred day simple moving average is $197.40. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The firm has a market cap of $45.26 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 4.36 and a beta of 1.18.
Old Dominion Freight Line Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued 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 was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is currently 24.27%.
Insider Transactions at Old Dominion Freight Line
In other Old Dominion Freight Line 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 transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Rothschild & Co Redburn reduced their price objective on 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. Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Citigroup lowered Old Dominion Freight Line from a “neutral” rating to a “sell” rating and raised their price target for the stock from $225.00 to $228.00 in a research report on Monday, June 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $218.57.
View Our Latest Analysis on Old Dominion Freight Line
Old Dominion Freight Line 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.
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