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

Choreo LLC lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 296.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,432 shares of the transportation company’s stock after acquiring an additional 3,314 shares during the quarter. Choreo LLC’s holdings in Old Dominion Freight Line were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Prudential PLC grew its position in Old Dominion Freight Line by 24.1% during the 2nd quarter. Prudential PLC now owns 29,978 shares of the transportation company’s stock worth $5,294,000 after purchasing an additional 5,820 shares during the period. Wilkinson Global Asset Management LLC boosted its stake in shares of Old Dominion Freight Line by 108.5% in the second quarter. Wilkinson Global Asset Management LLC now owns 104,421 shares of the transportation company’s stock worth $18,441,000 after buying an additional 54,331 shares during the last quarter. Ballentine Partners LLC grew its holdings in Old Dominion Freight Line by 5.9% during the second quarter. Ballentine Partners LLC now owns 1,730 shares of the transportation company’s stock worth $306,000 after acquiring an additional 96 shares during the period. Caprock Group LLC grew its holdings in Old Dominion Freight Line by 609.7% during the second quarter. Caprock Group LLC now owns 8,162 shares of the transportation company’s stock worth $1,441,000 after acquiring an additional 7,012 shares during the period. Finally, Certuity LLC raised its position in Old Dominion Freight Line by 34.2% during the second quarter. Certuity LLC now owns 4,896 shares of the transportation company’s stock valued at $865,000 after acquiring an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Stephens reissued an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Raymond James increased their target price 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, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.00.

Old Dominion Freight Line Trading Up 0.7 %

Shares of ODFL stock opened at $192.61 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s fifty day moving average is $195.01 and its two-hundred day moving average is $196.65. The firm has a market capitalization 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 posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.50 billion. During the same period last year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the 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 owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The stock was 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 disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

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.