RiverPark Advisors LLC Buys 256 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

RiverPark Advisors LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,954 shares of the transportation company’s stock after acquiring an additional 256 shares during the quarter. RiverPark Advisors LLC’s holdings in Old Dominion Freight Line were worth $785,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares during the period. Truist Financial Corp grew its stake in shares of Old Dominion Freight Line by 7.6% during the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after acquiring an additional 7,460 shares during the period. Sei Investments Co. grew its stake in shares of Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after acquiring an additional 21,438 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Old Dominion Freight Line by 85.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock valued at $47,041,000 after acquiring an additional 99,228 shares during the period. Finally, Ground Swell Capital LLC grew its stake in shares of Old Dominion Freight Line by 262.6% during the 3rd quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after acquiring an additional 4,853 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent research reports. Raymond James boosted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America lowered their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. The Goldman Sachs Group lowered their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $215.57 on Friday. The stock’s fifty day moving average is $201.32 and its 200 day moving average is $191.30. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market capitalization of $46.02 billion, a PE ratio of 37.69, a PEG ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,975 shares of company stock worth $10,062,478. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company 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.