United Capital Financial Advisers LLC Has $263,000 Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Posted by on Mar 8th, 2023

United Capital Financial Advisers LLC trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,057 shares of the transportation company’s stock after selling 93 shares during the period. United Capital Financial Advisers LLC’s holdings in Old Dominion Freight Line were worth $263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ameritas Advisory Services LLC raised its holdings in shares of Old Dominion Freight Line by 20.8% during the third quarter. Ameritas Advisory Services LLC now owns 1,329 shares of the transportation company’s stock worth $331,000 after acquiring an additional 229 shares during the period. AlphaCrest Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 183.1% during the third quarter. AlphaCrest Capital Management LLC now owns 15,283 shares of the transportation company’s stock worth $3,802,000 after acquiring an additional 9,884 shares during the period. Redwood Investment Management LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $1,355,000. Laurel Wealth Advisors Inc. increased its stake in Old Dominion Freight Line by 30.4% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 3,300 shares of the transportation company’s stock valued at $821,000 after buying an additional 769 shares during the last quarter. Finally, Cim Investment Management Inc. acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at $249,000. 73.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ODFL. Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $310.00 to $340.00 and gave the company an “equal weight” rating in a research note on Monday, February 13th. UBS Group lifted their price target on shares of Old Dominion Freight Line from $284.00 to $388.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Wells Fargo & Company lifted their price target on shares of Old Dominion Freight Line from $315.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Cowen lifted their price target on shares of Old Dominion Freight Line from $267.00 to $332.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Old Dominion Freight Line from $290.00 to $396.00 and gave the company a “hold” rating in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $342.32.

Insider Activity

In other news, SVP David J. Bates sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $344.71, for a total value of $416,409.68. Following the completion of the transaction, the senior vice president now directly owns 14,082 shares in the company, valued at approximately $4,854,206.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Bradley R. Gabosch sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $358.21, for a total transaction of $967,167.00. Following the completion of the transaction, the director now directly owns 5,818 shares in the company, valued at approximately $2,084,065.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David J. Bates sold 1,208 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $344.71, for a total transaction of $416,409.68. Following the transaction, the senior vice president now owns 14,082 shares of the company’s stock, valued at $4,854,206.22. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $349.80 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $38.49 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.48 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 12-month low of $231.31 and a 12-month high of $381.81. The firm has a 50-day moving average price of $330.83 and a two-hundred day moving average price of $296.94.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.24. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 22.00% and a return on equity of 38.60%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 12.12 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a $0.40 dividend. The ex-dividend date is Tuesday, February 28th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is presently 13.14%.

Old Dominion Freight Line Company Profile

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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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