HB Wealth Management LLC Decreases Stock Position in Old Dominion Freight Line, Inc. $ODFL

HB Wealth Management LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,854 shares of the transportation company’s stock after selling 5,233 shares during the quarter. HB Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,950,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ODFL. Stephens Inc. AR grew its position in shares of Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership lifted its stake in Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after acquiring an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Old Dominion Freight Line by 4.4% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after acquiring an additional 71 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 0.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares during the last quarter. Finally, STF Management LP raised its holdings in shares of Old Dominion Freight Line by 2.4% in the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of analyst reports. Rothschild & Co Redburn initiated coverage on shares of Old Dominion Freight Line in a research note on Wednesday, November 26th. They set a “sell” rating and a $114.00 target price for the company. Stifel Nicolaus set a $173.00 price target on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Finally, Morgan Stanley raised Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $165.00 to $190.00 in a report on Monday, December 8th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $160.00.

Old Dominion Freight Line Stock Up 1.2%

Shares of NASDAQ ODFL opened at $173.13 on Friday. The stock has a market cap of $36.20 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 8.42 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.61. The business has a 50-day moving average price of $148.62 and a 200 day moving average price of $149.59.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Old Dominion Freight Line 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.