Vanguard Personalized Indexing Management LLC Buys 1,359 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vanguard Personalized Indexing Management LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,026 shares of the transportation company’s stock after buying an additional 1,359 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Old Dominion Freight Line were worth $4,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ODFL. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s 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 sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several recent research reports. Barclays reduced their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 12th. BMO Capital Markets raised their price target 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. TD Cowen cut their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. dropped their target price 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Trading Up 1.1 %

Shares of NASDAQ ODFL opened at $196.75 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The stock has a market cap of $42.75 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The firm has a 50-day moving average of $195.55 and a 200 day moving average of $195.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. Old Dominion Freight Line’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

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.