Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,267 shares of the transportation company’s stock after selling 98 shares during the period. Park Avenue Securities LLC’s holdings in Old Dominion Freight Line were worth $717,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LPL Financial LLC boosted its holdings in Old Dominion Freight Line by 11.8% in the third quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock valued at $17,832,000 after purchasing an additional 4,585 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Old Dominion Freight Line by 14.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after buying an additional 30 shares during the last quarter. Bank of Nova Scotia grew its holdings in Old Dominion Freight Line by 40.6% during the third quarter. Bank of Nova Scotia now owns 68,503 shares of the transportation company’s stock worth $28,024,000 after acquiring an additional 19,778 shares during the period. Gotham Asset Management LLC grew its holdings in Old Dominion Freight Line by 18.2% during the third quarter. Gotham Asset Management LLC now owns 10,823 shares of the transportation company’s stock worth $4,428,000 after acquiring an additional 1,668 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Old Dominion Freight Line during the third quarter valued at approximately $4,016,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the topic of several recent research reports. Bank of America lowered their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research report on Thursday, June 6th. Evercore ISI restated an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday. BMO Capital Markets began coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price objective for the company. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, April 29th. Finally, Barclays dropped their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $201.18.

Old Dominion Freight Line Trading Down 0.9 %

ODFL opened at $174.37 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a market capitalization of $37.89 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The company’s 50 day simple moving average is $179.83 and its two-hundred day simple moving average is $200.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Analysts expect that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.