National Bank of Canada FI Has $12.67 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Bank of Canada FI decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,914 shares of the transportation company’s stock after selling 34,310 shares during the period. National Bank of Canada FI’s holdings in Old Dominion Freight Line were worth $12,672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $27,000. Farmers & Merchants Investments Inc. lifted its holdings in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. boosted its position in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $29,000. Finally, Fortitude Family Office LLC raised its position in shares of Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 29,975 shares of the business’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 sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’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 value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ODFL. Morgan Stanley decreased their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday. TD Cowen dropped their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research note on Friday. BMO Capital Markets lifted their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays dropped their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $201.00.

Old Dominion Freight Line Trading Down 0.7 %

NASDAQ:ODFL opened at $184.82 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The business’s 50-day simple moving average is $194.08 and its 200-day simple moving average is $197.46. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock has a market capitalization of $40.16 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 3.76 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 for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

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.