ProShare Advisors LLC Sells 23,766 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

ProShare Advisors LLC lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,806 shares of the transportation company’s stock after selling 23,766 shares during the quarter. ProShare Advisors LLC owned about 0.10% of Old Dominion Freight Line worth $37,405,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in Old Dominion Freight Line by 8.6% during the fourth quarter. Wells Fargo & Company MN now owns 149,092 shares of the transportation company’s stock worth $60,431,000 after buying an additional 11,820 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Old Dominion Freight Line by 47.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,267 shares of the transportation company’s stock valued at $6,188,000 after purchasing an additional 4,909 shares during the last quarter. US Bancorp DE raised its position in Old Dominion Freight Line by 1.0% in the 4th quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock worth $7,351,000 after purchasing an additional 182 shares during the period. Skopos Labs Inc. bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $226,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Old Dominion Freight Line by 3.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 45,383 shares of the transportation company’s stock valued at $18,395,000 after buying an additional 1,532 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 5.2 %

Shares of NASDAQ ODFL opened at $193.97 on Monday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The business has a fifty day moving average price of $196.27 and a 200 day moving average price of $195.51. The stock has a market capitalization of $42.15 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. 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 results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Stephens reiterated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Raymond James boosted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen reduced 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 research note on Friday, September 6th. Finally, Bank of America decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned 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, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $201.83.

Old Dominion Freight Line Company 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.