Old Dominion Freight Line, Inc. $ODFL Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,854 shares of the transportation company’s stock after selling 5,233 shares during the quarter. HB Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,950,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR lifted its holdings in Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after purchasing an additional 67 shares in the last quarter. YANKCOM Partnership raised its position in shares of Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after buying an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of Old Dominion Freight Line by 4.4% in the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after buying an additional 71 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Old Dominion Freight Line by 0.3% in the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after buying an additional 72 shares in the last quarter. Finally, STF Management LP boosted its position in Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after acquiring an additional 77 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on ODFL shares. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. TD Cowen increased their price target on Old Dominion Freight Line from $154.00 to $167.00 and gave the company a “hold” rating in a report on Friday. Bank of America lifted their price objective on Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. UBS Group raised their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Finally, Susquehanna reissued a “neutral” rating and set a $170.00 price target on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.00.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $173.13 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61. The stock’s fifty day moving average is $148.62 and its two-hundred day moving average is $149.59. The company has a market capitalization of $36.20 billion, a P/E ratio of 34.84, a P/E/G ratio of 8.42 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.