Raymond James Trust N.A. Buys 1,072 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raymond James Trust N.A. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 35.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,087 shares of the transportation company’s stock after acquiring an additional 1,072 shares during the quarter. Raymond James Trust N.A.’s holdings in Old Dominion Freight Line were worth $812,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ODFL. Public Employees Retirement Association of Colorado raised its holdings in Old Dominion Freight Line by 87.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 27,894 shares of the transportation company’s stock valued at $6,117,000 after acquiring an additional 13,028 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Old Dominion Freight Line by 69.8% during the first quarter. Public Employees Retirement System of Ohio now owns 89,460 shares of the transportation company’s stock worth $19,619,000 after purchasing an additional 36,785 shares during the period. SVB Wealth LLC increased its holdings in shares of Old Dominion Freight Line by 88.9% during the first quarter. SVB Wealth LLC now owns 2,465 shares of the transportation company’s stock worth $541,000 after purchasing an additional 1,160 shares during the period. Ascent Group LLC increased its holdings in shares of Old Dominion Freight Line by 23.6% during the first quarter. Ascent Group LLC now owns 2,280 shares of the transportation company’s stock worth $500,000 after purchasing an additional 436 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Old Dominion Freight Line by 99.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 6,578 shares of the transportation company’s stock worth $1,443,000 after purchasing an additional 3,285 shares during the period. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Stephens reissued an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Barclays lifted their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $220.25 on Monday. The firm has a market cap of $47.02 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99. The firm’s fifty day moving average is $203.84 and its 200-day moving average is $192.52. 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 52 week low of $165.49 and a 52 week high of $233.26.

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 company had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. Sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated 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 transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $4,028,510. Company insiders own 9.90% of the company’s stock.

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.