HighTower Advisors LLC Sells 2,556 Shares of Old Dominion Freight Line, Inc. $ODFL

HighTower Advisors LLC cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,463 shares of the transportation company’s stock after selling 2,556 shares during the quarter. HighTower Advisors LLC’s holdings in Old Dominion Freight Line were worth $2,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its position in Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after buying an additional 60 shares in the last quarter. Diversified Trust Co. grew its position in Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after buying an additional 65 shares in the last quarter. Modera Wealth Management LLC grew its position in Old Dominion Freight Line by 2.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after buying an additional 72 shares in the last quarter. Cim LLC grew its position in Old Dominion Freight Line by 1.0% during the third quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after buying an additional 75 shares in the last quarter. Finally, Brighton Jones LLC grew its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 target price on the stock. in a research report on Thursday, February 5th. Finally, Raymond James Financial reissued an “outperform” rating and set a $224.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $225.15 on Monday. The stock’s 50 day moving average is $204.81 and its two-hundred day moving average is $182.32. The company has a market capitalization of $46.82 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 4.61 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is presently 24.27%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.