Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 748,495 shares of the transportation company’s stock after selling 3,631 shares during the quarter. Old Dominion Freight Line makes up approximately 2.6% of Eventide Asset Management LLC’s holdings, making the stock its 3rd largest holding. Eventide Asset Management LLC’s holdings in Old Dominion Freight Line were worth $148,681,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Captrust Financial Advisors raised its stake in shares of Old Dominion Freight Line by 1.7% during the third quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock worth $1,490,000 after buying an additional 124 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in Old Dominion Freight Line by 7.7% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 16,573 shares of the transportation company’s stock worth $3,292,000 after acquiring an additional 1,184 shares during the period. Icon Wealth Advisors LLC grew its holdings in Old Dominion Freight Line by 38.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 1,115 shares of the transportation company’s stock worth $221,000 after acquiring an additional 308 shares during the period. Hantz Financial Services Inc. raised its position in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 56 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Old Dominion Freight Line by 62.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock valued at $1,443,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ODFL shares. Wells Fargo & Company decreased 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. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Barclays upped their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $200.41.

Old Dominion Freight Line Stock Down 0.8 %

Old Dominion Freight Line stock opened at $224.11 on Friday. The company has a fifty day simple moving average of $205.67 and a 200 day simple moving average of $193.32. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a market cap of $47.85 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

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.