Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Creative Planning

Creative Planning boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,269 shares of the transportation company’s stock after acquiring an additional 2,050 shares during the period. Creative Planning’s holdings in Old Dominion Freight Line were worth $11,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors increased its position in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Capital World Investors raised its holdings in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s 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 sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on 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 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 currently owned by insiders.

Old Dominion Freight Line Stock Down 2.0 %

ODFL opened at $194.75 on Wednesday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The firm has a 50 day moving average price of $196.31 and a 200 day moving average price of $194.57. 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 company has a market cap of $42.32 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99.

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 (EPS) 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 company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays dropped their price objective on 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. Raymond James lifted 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 report on Thursday, July 25th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Bank of America lowered their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Evercore ISI reissued an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.83.

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.