Quotient Wealth Partners LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Quotient Wealth Partners LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,012 shares of the transportation company’s stock, valued at approximately $201,000.

Several other institutional investors have also modified their holdings of ODFL. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line during the 2nd quarter valued at $25,000. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $27,000. Farmers & Merchants Investments Inc. raised its stake in shares of Old Dominion Freight Line by 100.0% during 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 in the last quarter. Atwood & Palmer Inc. lifted its holdings in 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. Finally, Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $29,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $199.58 on Friday. 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 stock has a market cap of $43.37 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 4.06 and a beta of 0.99. The business has a fifty day simple moving average of $194.85 and a 200-day simple moving average of $193.58.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.6 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ODFL shares. Susquehanna boosted their price target on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Citigroup initiated coverage on Old Dominion Freight Line in a research note on Wednesday. They issued a “neutral” rating and a $206.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price 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. Finally, BMO Capital Markets upped their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $200.83.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 10,000 shares of the business’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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction 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 sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.