Moss Adams Wealth Advisors LLC Takes $215,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Moss Adams Wealth Advisors LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,082 shares of the transportation company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in shares of Old Dominion Freight Line by 8.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after purchasing an additional 395 shares during the period. Chevy Chase Trust Holdings LLC raised its position in Old Dominion Freight Line by 98.3% in the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after acquiring an additional 50,019 shares during the period. Truist Financial Corp boosted its stake in Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after acquiring an additional 7,460 shares during the last quarter. Forsta AP Fonden grew its position in shares of Old Dominion Freight Line by 65.0% during the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after acquiring an additional 15,600 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after purchasing an additional 21,438 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $1,951,700.00. Following the completion of the sale, the chairman now 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 filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on 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 $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. 9.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Citigroup began coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target on the stock. Bank of America decreased their price objective on 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. BMO Capital Markets downgraded shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $214.00 to $210.00 in a report on Friday. Finally, Raymond James lifted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.56.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $199.54 on Friday. The stock has a market cap of $43.36 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 4.24 and a beta of 0.99. 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 business has a 50-day simple moving average of $195.53 and a 200 day simple moving average of $191.37. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $1.33 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

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.