Mount Yale Investment Advisors LLC Reduces Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mount Yale Investment Advisors LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,029 shares of the transportation company’s stock after selling 86 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Sequoia Financial Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after purchasing an additional 395 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in Old Dominion Freight Line by 98.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock valued at $22,127,000 after purchasing an additional 50,019 shares in the last quarter. Truist Financial Corp increased its holdings in 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 worth $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Forsta AP Fonden raised its position in shares of Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Sei Investments Co. boosted 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 buying an additional 21,438 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ODFL shares. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday. Barclays cut their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday. Bank of America decreased their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. BMO Capital Markets cut their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Raymond James lifted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Stock Performance

ODFL opened at $197.79 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $195.53 and its 200-day moving average is $190.66. The stock has a market cap of $42.98 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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 30.33% and a net margin of 21.38%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is 17.82%.

Insiders Place Their Bets

In other 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

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.