Great Lakes Retirement Inc. Cuts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Great Lakes Retirement Inc. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,873 shares of the transportation company’s stock after selling 69 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Old Dominion Freight Line were worth $2,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. Los Angeles Capital Management LLC lifted its holdings in Old Dominion Freight Line by 97.9% during the first quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 1,030 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Old Dominion Freight Line by 111.7% during the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock worth $358,000 after purchasing an additional 862 shares during the last quarter. GoalVest Advisory LLC lifted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. GoalVest Advisory LLC now owns 248 shares of the transportation company’s stock valued at $54,000 after buying an additional 124 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Old Dominion Freight Line by 101.5% in the 1st quarter. DGS Capital Management LLC now owns 2,194 shares of the transportation company’s stock worth $481,000 after buying an additional 1,105 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $3,792,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 5.5 %

ODFL opened at $188.67 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $195.69 and a 200-day simple moving average of $190.84. The firm has a market cap of $41.00 billion, a P/E ratio of 33.22, a P/E/G ratio of 4.18 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $209.00 to $197.00 in a research note on Monday. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. BMO Capital Markets lowered Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $214.00 to $210.00 in a research report on Friday, October 18th. Finally, Citigroup began coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.44.

Old Dominion Freight Line Profile

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.