Icon Wealth Advisors LLC Has $397,000 Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Icon Wealth Advisors LLC lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 147.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the transportation company’s stock after purchasing an additional 1,193 shares during the period. Icon Wealth Advisors LLC’s holdings in Old Dominion Freight Line were worth $397,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in shares of Old Dominion Freight Line by 305.3% during the first quarter. Canada Pension Plan Investment Board now owns 157,352 shares of the transportation company’s stock worth $34,509,000 after acquiring an additional 118,529 shares during the last quarter. LRI Investments LLC acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $132,000. BOKF NA boosted its stake in shares of Old Dominion Freight Line by 85.3% in the 1st quarter. BOKF NA now owns 17,734 shares of the transportation company’s stock valued at $3,868,000 after purchasing an additional 8,161 shares during the last quarter. Kentucky Retirement Systems grew its position in shares of Old Dominion Freight Line by 89.8% during the 1st quarter. Kentucky Retirement Systems now owns 13,590 shares of the transportation company’s stock worth $2,980,000 after buying an additional 6,431 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Old Dominion Freight Line by 85.3% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,906 shares of the transportation company’s stock worth $1,295,000 after buying an additional 2,718 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ODFL shares. Citigroup lifted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the company from $209.00 to $197.00 in a report on Monday, October 21st. BMO Capital Markets reduced 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 report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Stock Performance

ODFL opened at $220.25 on Friday. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 4.57 and a beta of 0.99. The business’s 50-day moving average price is $203.84 and its two-hundred day moving average price is $192.44. 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 posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.54 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’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 value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by 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.