LVW Advisors LLC Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

LVW Advisors LLC increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 155.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,303 shares of the transportation company’s stock after acquiring an additional 2,009 shares during the period. LVW Advisors LLC’s holdings in Old Dominion Freight Line were worth $656,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in Old Dominion Freight Line by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after acquiring an additional 395 shares during the period. Chevy Chase Trust Holdings LLC lifted its stake in Old Dominion Freight Line by 98.3% during the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares in the last quarter. Truist Financial Corp lifted its stake in Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares in the last quarter. Forsta AP Fonden lifted its stake in Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Old Dominion Freight Line by 98.6% during the first 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 in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $199.58 on Friday. The stock’s 50-day moving average is $194.85 and its two-hundred day moving average is $193.58. The firm has a market cap of $43.37 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.33 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.6 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research reports. TD Cowen decreased their price target on 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. Citigroup initiated coverage on Old Dominion Freight Line in a research note on Wednesday. They set a “neutral” rating and a $206.00 price target on the stock. Raymond James increased their price objective on 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. BMO Capital Markets increased their price objective on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $200.83.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.