RPg Family Wealth Advisory LLC Sells 3,631 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

RPg Family Wealth Advisory LLC cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 13.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,859 shares of the transportation company’s stock after selling 3,631 shares during the period. Old Dominion Freight Line makes up 2.9% of RPg Family Wealth Advisory LLC’s holdings, making the stock its 6th largest position. RPg Family Wealth Advisory LLC’s holdings in Old Dominion Freight Line were worth $6,828,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of Old Dominion Freight Line by 2.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,790 shares of the transportation company’s stock valued at $6,734,000 after acquiring an additional 364 shares in the last quarter. CWM LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $291,000. Raymond James Trust N.A. lifted its position in shares of Old Dominion Freight Line by 14.3% in the fourth quarter. Raymond James Trust N.A. now owns 1,108 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 139 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $17,839,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Old Dominion Freight Line by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 20,040 shares of the transportation company’s stock valued at $7,182,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 77.86% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 6,246 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total transaction of $1,874,674.44. Following the completion of the sale, the chairman now directly owns 809,569 shares in the company, valued at approximately $242,984,039.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of several recent analyst reports. Evercore ISI cut their target price on Old Dominion Freight Line from $334.00 to $301.00 and set an “in-line” rating for the company in a research note on Tuesday, July 12th. Wolfe Research lowered Old Dominion Freight Line from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, July 12th. Raymond James lowered their price target on Old Dominion Freight Line from $305.00 to $265.00 in a research report on Friday, July 15th. UBS Group lowered their price target on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Finally, Cowen raised their price target on Old Dominion Freight Line from $213.00 to $232.00 in a research report on Thursday, April 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $295.80.

Old Dominion Freight Line Price Performance

ODFL stock opened at $303.17 on Friday. The stock’s 50 day moving average price is $263.83 and its 200 day moving average price is $280.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.21 and a current ratio of 1.92. The firm has a market cap of $33.89 billion, a P/E ratio of 28.12, a PEG ratio of 1.51 and a beta of 1.04. Old Dominion Freight Line, Inc. has a 1 year low of $231.31 and a 1 year high of $373.58.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The transportation company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.21. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. Old Dominion Freight Line’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 EPS. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 11.74 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line’s payout ratio is 11.13%.

Old Dominion Freight Line Profile

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Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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