Premier Path Wealth Partners LLC Acquires 2,997 Shares of Old Dominion Freight Line, Inc. $ODFL

Premier Path Wealth Partners LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 207.5% during the 1st quarter, Holdings Channel reports. The firm owned 4,441 shares of the transportation company’s stock after purchasing an additional 2,997 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Old Dominion Freight Line were worth $868,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Old Dominion Freight Line by 14.1% during 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 acquiring an additional 1,761,511 shares during the period. State Street Corp grew its holdings in Old Dominion Freight Line by 0.9% in the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after purchasing an additional 70,736 shares during the period. CIBC Private Wealth Group LLC increased its stake in Old Dominion Freight Line by 21.6% in the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after purchasing an additional 776,004 shares in the last quarter. Boston Partners increased its stake in Old Dominion Freight Line by 98.4% in the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock valued at $648,186,000 after purchasing an additional 2,044,434 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock valued at $577,137,000 after purchasing an additional 365,424 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company set a $235.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Rothschild & Co Redburn dropped their price target 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. Susquehanna increased their price target on Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $224.00 price objective on shares of Old Dominion Freight Line in a report 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 stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $218.57.

Old Dominion Freight Line Stock Up 0.6%

Shares of NASDAQ:ODFL opened at $217.96 on Thursday. The business’s 50 day moving average is $218.73 and its 200 day moving average is $196.84. 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 cap of $45.33 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 4.34 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend 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%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction dated Monday, May 4th. The shares were 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 in the company, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

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.