Victory Capital Management Inc. Has $45.06 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226,850 shares of the transportation company’s stock after selling 6,994 shares during the period. Victory Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $45,062,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ODFL. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the period. Capital Research Global Investors lifted its position in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares during the period. Capital World Investors lifted its position in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a 50-day simple moving average of $201.32 and a 200 day simple moving average of $191.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $46.02 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99.

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. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company posted $1.54 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ODFL. Robert W. Baird decreased their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen decreased their price target on shares of 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. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. BMO Capital Markets decreased their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price target on shares of 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. One 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. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $200.00.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This represents a 2.09 % decrease in their position. 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. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line 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.