Prime Capital Investment Advisors LLC Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Prime Capital Investment Advisors LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 554.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,307 shares of the transportation company’s stock after buying an additional 29,909 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $7,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $25,000. Atwood & Palmer Inc. raised its stake in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares during the period. LRI Investments LLC lifted its holdings in shares of Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after purchasing an additional 79 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,975 shares of company stock worth $10,062,478. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $226.32 on Wednesday. The business’s 50-day moving average is $199.36 and its two-hundred day moving average is $190.54. The firm has a market capitalization of $48.32 billion, a P/E ratio of 39.57, a P/E/G ratio of 6.54 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year 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.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

Several analysts have commented on ODFL shares. Robert W. Baird decreased their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bank of America reduced their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. BMO Capital Markets lowered their target price on 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. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $198.33.

Old Dominion Freight Line Company Profile

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.