Citizens Financial Group Inc. RI Makes New $211,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Citizens Financial Group Inc. RI acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,193 shares of the transportation company’s stock, valued at approximately $211,000.

Several other hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $82,398,000. Dimensional Fund Advisors LP increased its holdings in shares of Old Dominion Freight Line by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock valued at $182,444,000 after acquiring an additional 86,427 shares in the last quarter. Taurus Asset Management LLC increased its holdings in shares of Old Dominion Freight Line by 7.5% during the second quarter. Taurus Asset Management LLC now owns 63,226 shares of the transportation company’s stock valued at $11,166,000 after acquiring an additional 4,392 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Old Dominion Freight Line by 11.5% during the second quarter. Envestnet Asset Management Inc. now owns 406,299 shares of the transportation company’s stock valued at $71,752,000 after acquiring an additional 41,752 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $1,141,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

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

Old Dominion Freight Line Trading Up 3.9 %

Old Dominion Freight Line stock opened at $204.52 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 firm has a market cap of $44.44 billion, a PE ratio of 36.01, a P/E/G ratio of 3.92 and a beta of 0.99. The stock’s 50 day simple moving average is $195.84 and its two-hundred day simple moving average is $195.95. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ODFL shares. Morgan Stanley cut their price objective on shares of 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. Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. dropped their target price 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. Finally, Stephens reiterated 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 issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $201.83.

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.