Geneva Capital Management LLC Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Geneva Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,085 shares of the transportation company’s stock after buying an additional 6,437 shares during the period. Geneva Capital Management LLC’s holdings in Old Dominion Freight Line were worth $19,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 0.6% during the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares during the last quarter. Conning Inc. increased its stake in Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after buying an additional 64 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Old Dominion Freight Line by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after buying an additional 66 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Old Dominion Freight Line by 5.5% in the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after acquiring an additional 67 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors 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 value of $6,033,967.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $271,602,670.57. This represents a 0.00 % decrease in their position. 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 quarter. 9.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Susquehanna reduced their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Barclays decreased their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $198.33.

Old Dominion Freight Line Trading Down 2.4 %

Old Dominion Freight Line stock opened at $226.32 on Wednesday. The stock has a 50-day moving average price of $199.36 and a 200 day moving average price of $190.54. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a market cap of $48.32 billion, a PE ratio of 39.57, a P/E/G ratio of 6.54 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 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 net margin of 21.03% and a return on equity of 29.40%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. Equities research analysts predict 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. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 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.