United Capital Financial Advisors LLC Takes Position in Old Dominion Freight Line, Inc. $ODFL

United Capital Financial Advisors LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,282 shares of the transportation company’s stock, valued at approximately $6,126,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in Old Dominion Freight Line during the 2nd quarter worth $3,416,007,000. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $444,983,000. Bank of New York Mellon Corp bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $543,289,000. Boston Partners bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $292,599,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after buying an additional 1,761,511 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the company’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 transaction, the senior vice president owned 22,746 shares in the company, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ODFL. Evercore reiterated an “outperform” rating and issued a $243.00 target price on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Truist Financial raised their price target on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Argus boosted their price target on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $227.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $200.06 on Friday. 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. The company has a market capitalization of $41.48 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 3.46 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 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, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is 22.35%.

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.