SevenBridge Financial Group LLC Boosts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

SevenBridge Financial Group LLC raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,611 shares of the transportation company’s stock after acquiring an additional 50 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Old Dominion Freight Line were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ODFL. Canada Pension Plan Investment Board lifted its holdings in Old Dominion Freight Line by 305.3% during the first quarter. Canada Pension Plan Investment Board now owns 157,352 shares of the transportation company’s stock valued at $34,509,000 after purchasing an additional 118,529 shares during the last quarter. LRI Investments LLC bought a new position in Old Dominion Freight Line in the 1st quarter worth approximately $132,000. BOKF NA grew its stake in Old Dominion Freight Line by 85.3% in the 1st quarter. BOKF NA now owns 17,734 shares of the transportation company’s stock valued at $3,868,000 after buying an additional 8,161 shares in the last quarter. Kentucky Retirement Systems raised its holdings in Old Dominion Freight Line by 89.8% during the 1st quarter. Kentucky Retirement Systems now owns 13,590 shares of the transportation company’s stock valued at $2,980,000 after acquiring an additional 6,431 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Old Dominion Freight Line by 85.3% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,906 shares of the transportation company’s stock worth $1,295,000 after acquiring an additional 2,718 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Robert W. Baird decreased their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $200.00.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the business’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 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 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s 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 transaction, the director now owns 7,383 shares in the company, 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. In the last 90 days, insiders have sold 49,975 shares of company stock valued at $10,062,478. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $220.25 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $47.02 billion, a P/E ratio of 38.51, a PEG ratio of 4.57 and a beta of 0.99. The stock has a 50-day moving average price of $203.84 and a 200-day moving average price of $192.44. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

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.