Wealthfront Advisers LLC Raises Stake in Old Dominion Freight Line, Inc. $ODFL

Wealthfront Advisers LLC boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.1% in the 1st quarter, HoldingsChannel reports. The fund owned 34,022 shares of the transportation company’s stock after acquiring an additional 4,963 shares during the period. Wealthfront Advisers LLC’s holdings in Old Dominion Freight Line were worth $6,648,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ODFL. Bogart Wealth LLC raised its holdings in shares of Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 46 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after purchasing an additional 55 shares during the last quarter. Keybank National Association OH grew its stake in shares of Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after purchasing an additional 56 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after purchasing an additional 57 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Old Dominion Freight Line by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after buying an additional 60 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $233.84 on Friday. The company’s fifty day moving average price is $221.78 and its 200 day moving average price is $202.17. 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 capitalization of $48.63 billion, a P/E ratio of 48.92, a P/E/G ratio of 4.23 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.55 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of analyst reports. Evercore upgraded Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research note on Wednesday, July 1st. Stifel Nicolaus upped their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $235.00 to $250.00 in a research report on Wednesday, July 8th. Finally, BMO Capital Markets restated an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Ten equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $222.00.

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.