GHP Investment Advisors Inc. Has $2.52 Million Stake in Old Dominion Freight Line, Inc. $ODFL

GHP Investment Advisors Inc. lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,880 shares of the transportation company’s stock after selling 2,411 shares during the period. GHP Investment Advisors Inc.’s holdings in Old Dominion Freight Line were worth $2,517,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ODFL. Deseret Mutual Benefit Administrators grew its holdings in Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after purchasing an additional 57 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after acquiring an additional 60 shares during the period. Diversified Trust Co. boosted its stake in shares of Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after acquiring an additional 65 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 5.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,443 shares of the transportation company’s stock worth $282,000 after acquiring an additional 69 shares during the last quarter. Finally, CNB Bank raised its stake in Old Dominion Freight Line by 2.3% in the 4th quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock valued at $490,000 after acquiring an additional 71 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This represents a 19.98% 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. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $224.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Barclays increased their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $218.57.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $218.79 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The stock’s 50-day simple moving average is $218.74 and its 200 day simple moving average is $195.20. The stock has a market capitalization of $45.50 billion, a P/E ratio of 45.77, a P/E/G ratio of 4.42 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

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.