Caprock Group LLC Buys 794 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Caprock Group LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% in the third quarter, HoldingsChannel.com reports. The firm owned 8,956 shares of the transportation company’s stock after purchasing an additional 794 shares during the quarter. Caprock Group LLC’s holdings in Old Dominion Freight Line were worth $1,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares during the period. Kinsale Capital Group Inc. boosted its holdings in Old Dominion Freight Line by 18.4% in the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares during the period. Truist Financial Corp boosted its holdings in Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares during the period. Ground Swell Capital LLC raised its position in shares of Old Dominion Freight Line by 262.6% in the 3rd quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after buying an additional 4,853 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $1,404,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $214.33 on Thursday. The company has a fifty day moving average price of $202.73 and a 200-day moving average price of $191.92. The company has a market capitalization of $45.76 billion, a P/E ratio of 37.47, a PEG ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ODFL. TD Cowen cut their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Citigroup upped their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Barclays upped their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Susquehanna cut their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $200.00.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 over the last three months. 9.90% of the stock is owned by company insiders.

About Old Dominion Freight Line

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.