Old Dominion Freight Line, Inc. $ODFL Shares Sold by Garrison Bradford & Associates Inc.

Garrison Bradford & Associates Inc. lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,455 shares of the transportation company’s stock after selling 902 shares during the quarter. Old Dominion Freight Line makes up approximately 5.8% of Garrison Bradford & Associates Inc.’s investment portfolio, making the stock its 6th largest position. Garrison Bradford & Associates Inc.’s holdings in Old Dominion Freight Line were worth $5,267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 108 shares during the last quarter. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. Zions Bancorporation National Association UT bought a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth about $39,000. Finally, Olde Wealth Management LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth about $43,000. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ODFL shares. Stephens decreased their price target on Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a research note on Thursday. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Thursday, July 31st. Jefferies Financial Group dropped their price target on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $140.42 on Monday. The firm has a market cap of $29.51 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26. The business’s 50 day moving average price is $142.87 and its two-hundred day moving average price is $153.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Old Dominion Freight Line Company 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.