Provenance Wealth Advisors LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 39,625.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,178 shares of the transportation company’s stock after acquiring an additional 3,170 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Old Dominion Freight Line were worth $552,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Solstein Capital LLC purchased a new position in Old Dominion Freight Line during the second quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. EFG International AG acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $29,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $30,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Barclays set a $200.00 price target on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Weiss Ratings cut shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $240.00 to $205.00 in a research report on Friday, September 4th. Raymond James Financial reiterated an “outperform” rating and issued a $210.00 target price on shares of Old Dominion Freight Line in a report on Thursday, October 29th. Finally, Wolfe Research raised Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 7th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $217.30.
Check Out Our Latest Research Report on Old Dominion Freight Line
Insider Activity at Old Dominion Freight Line
In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares in the company, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.20% of the company’s stock.
Old Dominion Freight Line Price Performance
Shares of Old Dominion Freight Line stock opened at $170.56 on Friday. The business has a 50-day moving average of $181.52 and a 200 day moving average of $201.49. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 2.93 and a beta of 1.14.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its earnings results on Wednesday, October 28th. The transportation company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. Old Dominion Freight Line’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 20.86%.
Old Dominion Freight Line 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.
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