Fortis Capital Management LLC Sells 13,598 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fortis Capital Management LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 71.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,521 shares of the transportation company’s stock after selling 13,598 shares during the period. Fortis Capital Management LLC’s holdings in Old Dominion Freight Line were worth $1,097,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd boosted its holdings in Old Dominion Freight Line by 17.2% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 2,797 shares of the transportation company’s stock valued at $556,000 after purchasing an additional 411 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $271,000. Geneva Capital Management LLC increased its stake in Old Dominion Freight Line by 7.1% during the 3rd quarter. Geneva Capital Management LLC now owns 97,085 shares of the transportation company’s stock worth $19,285,000 after acquiring an additional 6,437 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in Old Dominion Freight Line by 554.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 35,307 shares of the transportation company’s stock valued at $7,013,000 after acquiring an additional 29,909 shares in the last quarter. Finally, Proactive Wealth Strategies LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $253,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.3 %

ODFL opened at $225.60 on Thursday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day moving average is $199.96 and its 200 day moving average is $190.79. The firm has a market capitalization of $48.17 billion, a P/E ratio of 39.44, a PEG ratio of 6.38 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analysts Set New Price Targets

A number of research firms recently commented on ODFL. TD Cowen dropped their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Evercore ISI reduced their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Barclays upped their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Stephens reiterated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $200.00.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 in the last quarter. 9.90% of the stock is owned by company insiders.

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.