RiverPark Advisors LLC Purchases 256 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

RiverPark Advisors LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,954 shares of the transportation company’s stock after buying an additional 256 shares during the quarter. RiverPark Advisors LLC’s holdings in Old Dominion Freight Line were worth $785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors grew its position 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 worth $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Capital World Investors lifted its stake 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 worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after purchasing an additional 815,817 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Old Dominion Freight Line by 19,764.0% during the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after purchasing an additional 681,858 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 3.5 %

Old Dominion Freight Line stock opened at $215.57 on Friday. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The business’s 50-day moving average price is $201.32 and its 200 day moving average price is $191.30. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ODFL. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. The Goldman Sachs Group decreased their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, BMO Capital Markets reduced their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $200.00.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,975 shares of company stock valued at $10,062,478. Company insiders own 9.90% of the company’s stock.

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.