Insigneo Advisory Services LLC Trims Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Insigneo Advisory Services LLC decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 36.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,488 shares of the transportation company’s stock after selling 858 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Old Dominion Freight Line were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Sequoia Financial Advisors LLC boosted its stake in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth approximately $2,109,000. Kinsale Capital Group Inc. grew its holdings in Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Old Dominion Freight Line during the third quarter worth approximately $30,745,000. Finally, Truist Financial Corp boosted its holdings in shares of Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on 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 transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. 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. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group decreased their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.88.

Old Dominion Freight Line Stock Up 0.0 %

Old Dominion Freight Line stock opened at $203.00 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a 50-day simple moving average of $208.18 and a 200-day simple moving average of $195.17. The firm has a market capitalization of $43.34 billion, a P/E ratio of 35.49, a P/E/G ratio of 4.41 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 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 analysts’ expectations 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 quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

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.