AdvisorNet Financial Inc Sells 275 Shares of Old Dominion Freight Line, Inc. $ODFL

AdvisorNet Financial Inc trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,051 shares of the transportation company’s stock after selling 275 shares during the quarter. AdvisorNet Financial Inc’s holdings in Old Dominion Freight Line were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Brighton Jones LLC boosted its stake 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 acquiring an additional 79 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Old Dominion Freight Line by 10.3% in the 4th quarter. Mackenzie Financial Corp now owns 19,187 shares of the transportation company’s stock worth $3,385,000 after purchasing an additional 1,796 shares during the period. Jefferies Financial Group Inc. purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $1,127,000. 111 Capital purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $380,000. Finally, GAMMA Investing LLC grew its holdings in Old Dominion Freight Line by 24,499.9% during the first quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company’s stock valued at $85,105,000 after purchasing an additional 512,293 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ODFL. Benchmark reaffirmed a “hold” rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a report on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $166.95.

Old Dominion Freight Line Trading Down 0.4%

Old Dominion Freight Line stock opened at $140.43 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $138.65 and a 1 year high of $233.26. The firm’s 50 day moving average price is $150.61 and its 200-day moving average price is $157.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $29.51 billion, a P/E ratio of 27.43, a PEG ratio of 3.28 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is 21.88%.

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.