Old Dominion Freight Line, Inc. $ODFL Stock: Prairie Advisory LLC Grows Holdings

Prairie Advisory LLC grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 109.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,324 shares of the transportation company’s stock after acquiring an additional 4,862 shares during the period. Prairie Advisory LLC’s holdings in Old Dominion Freight Line were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $3,416,007,000. Bank of New York Mellon Corp bought a new position in Old Dominion Freight Line in the 2nd quarter valued at about $543,289,000. Legal & General Group Plc bought a new position in Old Dominion Freight Line in the 2nd quarter valued at about $253,155,000. Caisse de depot et placement du Quebec bought a new position in Old Dominion Freight Line in the 2nd quarter valued at about $190,557,000. Finally, Bank of America Corp DE acquired a new stake in Old Dominion Freight Line during the second quarter worth approximately $160,147,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODFL. Wall Street Zen upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday. Susquehanna decreased their target price on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. UBS Group reaffirmed a “neutral” rating and issued a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Bank of America lowered their target price on Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th. Finally, Raymond James Financial reissued an “outperform” rating and set a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $223.48.

Old Dominion Freight Line Stock Down 0.1%

Shares of Old Dominion Freight Line stock traded down $0.14 during trading on Monday, reaching $187.58. The company’s stock had a trading volume of 472,197 shares, compared to its average volume of 1,992,280. The business’s 50-day moving average price is $188.60 and its 200-day moving average price is $207.72. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The firm has a market cap of $38.90 billion, a PE ratio of 36.12, a P/E/G ratio of 3.11 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the firm earned $1.27 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.86 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 22.35%.

About Old Dominion Freight Line

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.