Fulton Breakefield Broenniman LLC Sells 224 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fulton Breakefield Broenniman LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,585 shares of the transportation company’s stock after selling 224 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Old Dominion Freight Line were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. boosted its holdings in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the period. Finally, Fortitude Family Office LLC increased its position in shares of Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Bank of America decreased their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Citigroup began coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price on the stock. Finally, Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.83.

Old Dominion Freight Line Trading Up 1.0 %

Shares of ODFL stock opened at $203.49 on Thursday. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a market capitalization of $44.22 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 4.06 and a beta of 0.99. The firm has a 50 day moving average price of $195.30 and a two-hundred day moving average price of $191.61. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.6 earnings per share for the current year.

Insider Activity

In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company 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.