Avestar Capital LLC Invests $223,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Avestar Capital LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,123 shares of the transportation company’s stock, valued at approximately $223,000.

Several other large investors have also recently made changes to their positions in ODFL. Bank of New York Mellon Corp lifted its holdings in Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after buying an additional 78,587 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Old Dominion Freight Line by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock worth $182,444,000 after buying an additional 86,427 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Old Dominion Freight Line by 39.1% during the 2nd quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock worth $123,294,000 after buying an additional 196,350 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 12.9% during the 3rd quarter. Bridges Investment Management Inc. now owns 694,620 shares of the transportation company’s stock worth $137,979,000 after buying an additional 79,348 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 0.8 %

Shares of Old Dominion Freight Line stock opened at $224.11 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $47.85 billion, a P/E ratio of 39.18, a PEG ratio of 4.71 and a beta of 0.99. The company’s fifty day moving average is $205.67 and its two-hundred day moving average is $193.32.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced 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 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ODFL. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Barclays increased their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $200.41.

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.