Orion Portfolio Solutions LLC Sells 599 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Orion Portfolio Solutions LLC reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,101 shares of the transportation company’s stock after selling 599 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Old Dominion Freight Line were worth $4,390,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ODFL. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at $25,000. LRI Investments LLC increased its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Cullen Frost Bankers Inc. increased its stake in Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 189 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $203.93 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $43.54 billion, a P/E ratio of 35.65, a P/E/G ratio of 4.25 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a 50-day moving average price of $208.28 and a two-hundred day moving average price of $195.40.

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, beating analysts’ consensus estimates of $1.42 by $0.01. The firm 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%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ODFL. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Citigroup boosted their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Finally, Barclays boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $202.88.

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.