Old Dominion Freight Line, Inc. $ODFL Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,136 shares of the transportation company’s stock after selling 8,867 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $7,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $25,000. Solstein Capital LLC bought a new position in Old Dominion Freight Line in the 2nd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Evolution Wealth Management Inc. bought a new position in Old Dominion Freight Line in the 1st quarter worth $29,000. Finally, EFG International AG acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’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. The trade was a 46.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. Truist Financial set a $230.00 price target on shares of Old Dominion Freight Line and gave the company a “buy” rating in a report on Wednesday, October 7th. BMO Capital Markets set a $235.00 price objective on Old Dominion Freight Line in a research note on Wednesday, October 7th. Evercore reiterated an “outperform” rating and issued a $243.00 price objective (up from $237.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a “buy” rating and set a $244.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Finally, Barclays increased their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $223.48.

Key Stories Impacting Old Dominion Freight Line

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Old Dominion declared a quarterly cash dividend of $0.29 per share, payable December 16 to shareholders of record December 2. The dividend equates to $1.16 annually and a yield of approximately 0.6%, reinforcing the company’s cash-return commitment. Old Dominion Freight Line Declares a Quarterly Cash Dividend
• Positive Sentiment: Analysts expect Old Dominion’s third-quarter earnings to increase substantially, with one forecast calling for approximately 25.8% growth. Improving freight demand, disciplined pricing and operating efficiency could support an earnings beat when results are released next week. Old Dominion Gears Up for Q3 Earnings
• Neutral Sentiment: The upcoming earnings report is the key near-term catalyst. Expectations already appear elevated, so results and management’s outlook will determine whether projected growth is reflected in the stock.
• Negative Sentiment: Rising fuel costs are reportedly hurting trucking companies more severely than railroads. That trend could increase Old Dominion’s operating expenses and weigh on freight volumes or margins relative to rail competitors. US Railroads Pull Ahead as High Fuel Costs Hit Truckers Harder

Old Dominion Freight Line Trading Up 0.5%

Shares of Old Dominion Freight Line stock opened at $189.89 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company’s fifty day simple moving average is $186.67 and its 200-day simple moving average is $207.46. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.13 and a beta of 1.20.

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, beating the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.86 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, December 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.