TD Private Client Wealth LLC Buys 2,746 Shares of Old Dominion Freight Line, Inc. $ODFL

TD Private Client Wealth LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 395.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,441 shares of the transportation company’s stock after acquiring an additional 2,746 shares during the period. TD Private Client Wealth LLC’s holdings in Old Dominion Freight Line were worth $540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. Brighton Jones LLC increased its stake in 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 period. Empowered Funds LLC increased its stake in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after acquiring an additional 5,866 shares during the period. Marshall Wace LLP bought a new position in Old Dominion Freight Line during the 2nd quarter worth $7,478,000. Jump Financial LLC bought a new position in Old Dominion Freight Line during the 2nd quarter worth $2,891,000. Finally, AXA S.A. increased its stake in Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after acquiring an additional 238 shares during the period. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. TD Cowen reaffirmed a “hold” rating and issued a $194.00 target price (up from $180.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Jefferies Financial Group raised their target price on Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Stock Down 1.0%

NASDAQ ODFL opened at $207.69 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79. The company has a market cap of $43.19 billion, a price-to-earnings ratio of 43.45, a price-to-earnings-growth ratio of 4.30 and a beta of 1.17. The business’s fifty day moving average is $200.65 and its 200 day moving average is $179.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.19 EPS. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.00% of the company’s stock.

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.