Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Choreo LLC

Choreo LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 296.4% in the second quarter, Holdings Channel reports. The firm owned 4,432 shares of the transportation company’s stock after buying an additional 3,314 shares during the period. Choreo LLC’s holdings in Old Dominion Freight Line were worth $791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $194,000. Jump Financial LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at approximately $721,000. Avantax Advisory Services Inc. lifted its stake in Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after purchasing an additional 30 shares in the last quarter. Navellier & Associates Inc. purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $509,000. Finally, NorthRock Partners LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $255,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s 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 transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Up 0.7 %

ODFL stock opened at $192.61 on Friday. The company’s 50 day moving average is $195.01 and its two-hundred day moving average is $196.65. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. 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 stock has a market cap of $41.85 billion, a P/E ratio of 33.91, a PEG ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company earned $1.33 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research reports. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Susquehanna cut their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Raymond James boosted their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen reduced their price objective on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $201.00.

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.