Commonwealth Equity Services LLC Buys 2,325 Shares of Old Dominion Freight Line (NASDAQ:ODFL)

Commonwealth Equity Services LLC grew its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 137.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,018 shares of the transportation company’s stock after acquiring an additional 2,325 shares during the period. Commonwealth Equity Services LLC’s holdings in Old Dominion Freight Line were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Tennessee Treasury Department raised its stake in shares of Old Dominion Freight Line by 4.4% in the third quarter. State of Tennessee Treasury Department now owns 53,609 shares of the transportation company’s stock worth $9,112,000 after acquiring an additional 2,249 shares during the last quarter. BB&T Securities LLC raised its stake in shares of Old Dominion Freight Line by 6.8% in the third quarter. BB&T Securities LLC now owns 6,140 shares of the transportation company’s stock worth $1,042,000 after acquiring an additional 389 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Old Dominion Freight Line by 59.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the transportation company’s stock worth $38,000 after acquiring an additional 85 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $1,978,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Old Dominion Freight Line by 94.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,214 shares of the transportation company’s stock worth $3,606,000 after acquiring an additional 10,300 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on the stock. Robert W. Baird set a $162.00 target price on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, July 26th. Citigroup set a $185.00 price target on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, October 25th. Argus boosted their price target on shares of Old Dominion Freight Line to $205.00 and gave the stock a “positive” rating in a research note on Tuesday, October 29th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating and boosted their price target for the stock from $148.00 to $155.00 in a research note on Friday, October 25th. Finally, BidaskClub downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $171.83.

ODFL opened at $192.92 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $15.57 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.53. The firm has a 50 day simple moving average of $179.40 and a 200 day simple moving average of $160.32. Old Dominion Freight Line has a fifty-two week low of $115.00 and a fifty-two week high of $197.25.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. Old Dominion Freight Line had a net margin of 15.29% and a return on equity of 22.62%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS. As a group, analysts expect that Old Dominion Freight Line will post 7.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 9.21%.

In related news, insider David S. Congdon sold 30,150 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $165.51, for a total transaction of $4,990,126.50. Following the completion of the transaction, the insider now owns 13,385 shares in the company, valued at $2,215,351.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Earl E. Congdon sold 23,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $181.94, for a total transaction of $4,275,590.00. Following the transaction, the chairman now owns 10,854 shares of the company’s stock, valued at approximately $1,974,776.76. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Profile

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.

Read More: Trading based on a resistance level

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

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.