Banque Cantonale Vaudoise Buys 1,114 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Banque Cantonale Vaudoise boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,040 shares of the transportation company’s stock after buying an additional 1,114 shares during the period. Banque Cantonale Vaudoise’s holdings in Old Dominion Freight Line were worth $2,391,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $25,000. Atwood & Palmer Inc. lifted its holdings in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc grew its position in 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 valued at $31,000 after buying an additional 163 shares during the period. LRI Investments LLC increased its stake in shares of Old Dominion Freight Line by 73.1% during the 2nd 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 last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the first quarter valued at $38,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ODFL shares. Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. 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 on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. 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 report on Thursday, October 24th. Finally, Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Trading Down 1.0 %

NASDAQ:ODFL opened at $211.80 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company’s 50-day simple moving average is $202.22 and its 200 day simple moving average is $191.77. The firm has a market capitalization of $45.22 billion, a P/E ratio of 37.03, a PEG ratio of 4.51 and a beta of 0.99. 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 posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload 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.