Ieq Capital LLC Makes New $1.02 Million Investment in Old Dominion Freight Line, Inc. $ODFL

Ieq Capital LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,734 shares of the transportation company’s stock, valued at approximately $1,025,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC increased its position in Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after buying an additional 5,866 shares during the period. Marshall Wace LLP bought a new position in Old Dominion Freight Line in the 2nd quarter worth approximately $7,478,000. Jump Financial LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $2,891,000. Finally, AXA S.A. lifted its holdings in shares of Old Dominion Freight Line by 1.2% during the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after buying an additional 238 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Trading Up 0.3%

Shares of NASDAQ:ODFL opened at $200.06 on Friday. The firm has a market capitalization of $41.48 billion, a PE ratio of 38.55, a PEG ratio of 3.46 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The business’s 50 day moving average is $218.02 and its 200-day moving average is $210.60.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ODFL. Truist Financial raised their price objective on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Evercore reiterated an “outperform” rating and set a $243.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Zacks Research raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Wells Fargo & Company upgraded shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $235.00 to $250.00 in a research report on Wednesday, July 8th. Finally, Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Company 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.