Moors & Cabot Inc. Sells 628 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Moors & Cabot Inc. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 34.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,181 shares of the transportation company’s stock after selling 628 shares during the period. Moors & Cabot Inc.’s holdings in Old Dominion Freight Line were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased 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 buying an additional 13,028 shares during the period. Public Employees Retirement System of Ohio raised its position in 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 valued at $19,619,000 after purchasing an additional 36,785 shares in the last quarter. SVB Wealth LLC lifted its stake in 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 last quarter. Ascent Group LLC boosted its holdings in shares of Old Dominion Freight Line by 23.6% in the 1st quarter. Ascent Group LLC now owns 2,280 shares of the transportation company’s stock valued at $500,000 after purchasing an additional 436 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Old Dominion Freight Line by 99.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 6,578 shares of the transportation company’s stock valued at $1,443,000 after purchasing an additional 3,285 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,000 shares of company stock worth $4,028,510. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Trading Up 0.9 %

NASDAQ:ODFL opened at $220.25 on Monday. The firm has a market cap of $47.02 billion, a P/E ratio of 38.51, a P/E/G ratio of 4.57 and a beta of 0.99. 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. The firm’s fifty day moving average is $203.84 and its 200-day moving average is $192.52.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ODFL shares. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Barclays raised their price target 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. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. BMO Capital Markets cut their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Evercore ISI lowered their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, fifteen have issued 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 an average target price of $200.00.

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.