Mirabella Financial Services LLP Increases Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Mirabella Financial Services LLP boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 327.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,399 shares of the transportation company’s stock after acquiring an additional 9,499 shares during the period. Mirabella Financial Services LLP’s holdings in Old Dominion Freight Line were worth $1,742,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. CIBC Private Wealth Group LLC raised 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 worth $614,764,000 after buying an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares during the period. Norges Bank purchased a new stake in Old Dominion Freight Line in the second quarter worth about $371,961,000. Finally, Boston Partners bought a new stake in Old Dominion Freight Line during the 3rd quarter valued at approximately $292,599,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ODFL. Robert W. Baird downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $166.00 to $204.00 in a report on Thursday, February 5th. Stephens restated an “overweight” rating and set a $232.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Rothschild & Co Redburn upped their price target on Old Dominion Freight Line from $114.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, February 6th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $191.08.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director directly owned 11,278 shares of the company’s stock, valued at $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is owned by insiders.

Old Dominion Freight Line Trading Down 0.1%

Old Dominion Freight Line stock opened at $182.36 on Friday. The business’s fifty day simple moving average is $188.18 and its two-hundred day simple moving average is $160.04. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $221.63. The company has a market capitalization of $38.01 billion, a price-to-earnings ratio of 37.76, a price-to-earnings-growth ratio of 3.84 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a dividend of $0.29 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 24.02%.

Old Dominion Freight Line Company 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.