Bradley Foster & Sargent Inc. CT Has $1.04 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bradley Foster & Sargent Inc. CT lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 73.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,879 shares of the transportation company’s stock after selling 15,929 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Old Dominion Freight Line were worth $1,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. grew its position in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Atwood & Palmer Inc. increased its stake in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $29,000. Finally, Fortitude Family Office LLC boosted its stake in Old Dominion Freight Line by 103.0% during the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 3.9 %

Shares of ODFL stock opened at $204.52 on Friday. The company has a market capitalization of $44.44 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $195.84 and a 200 day moving average price of $195.95.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on ODFL. Robert W. Baird lifted their price target on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America dropped their target price on shares of 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. JPMorgan Chase & Co. decreased their price target on shares of 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. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Finally, Morgan Stanley decreased their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. 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. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $201.83.

Insider Transactions at Old Dominion Freight Line

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 transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’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 transaction, the chairman now directly 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 SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’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 owns 1,391,621 shares of the company’s stock, valued at approximately $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.