Vestmark Advisory Solutions Inc. Sells 2,583 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Posted by Defense World Staff on Apr 1st, 2023

Vestmark Advisory Solutions Inc. reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 25.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,557 shares of the transportation company’s stock after selling 2,583 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Old Dominion Freight Line were worth $2,145,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. HB Wealth Management LLC boosted its stake in Old Dominion Freight Line by 16.2% in the fourth quarter. HB Wealth Management LLC now owns 2,347 shares of the transportation company’s stock valued at $666,000 after acquiring an additional 328 shares during the last quarter. Peterson Wealth Services boosted its position in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. Peterson Wealth Services now owns 9,476 shares of the transportation company’s stock worth $2,689,000 after purchasing an additional 52 shares in the last quarter. V Wealth Advisors LLC boosted its position in shares of Old Dominion Freight Line by 10.4% during the fourth quarter. V Wealth Advisors LLC now owns 12,857 shares of the transportation company’s stock worth $3,649,000 after purchasing an additional 1,212 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Old Dominion Freight Line by 0.5% during the fourth quarter. Chesley Taft & Associates LLC now owns 9,940 shares of the transportation company’s stock worth $2,821,000 after acquiring an additional 45 shares during the period. Finally, Western Financial Corp CA acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $627,000. 73.08% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 2.2 %

Shares of Old Dominion Freight Line stock opened at $340.84 on Friday. The firm has a market cap of $37.50 billion, a PE ratio of 27.98, a PEG ratio of 3.28 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 1 year low of $231.31 and a 1 year high of $381.81. The company has a 50 day simple moving average of $342.99 and a two-hundred day simple moving average of $303.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last issued its earnings results on Wednesday, February 1st. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.68 by $0.24. The company had revenue of $1.49 billion for 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 firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.41 earnings per share. Analysts expect that Old Dominion Freight Line, Inc. will post 12.07 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 28th. Old Dominion Freight Line’s dividend payout ratio is 13.14%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens lifted their price target on shares of Old Dominion Freight Line from $340.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird lifted their price objective on shares of Old Dominion Freight Line from $276.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Credit Suisse Group lifted their price objective on shares of Old Dominion Freight Line from $323.00 to $338.00 in a research report on Thursday, February 2nd. Bank of America raised shares of Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $266.00 to $334.00 in a research report on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Old Dominion Freight Line from $396.00 to $373.00 in a report on Monday, March 20th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $341.11.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP David J. Bates sold 1,208 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were 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 in the company, valued at approximately $4,854,206.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 2,700 shares of the 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 sale, the director now directly owns 5,818 shares of the company’s stock, valued at approximately $2,084,065.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David J. Bates sold 1,208 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $344.71, for a total transaction of $416,409.68. Following the sale, the senior vice president now directly owns 14,082 shares of the company’s stock, valued at $4,854,206.22. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

Old Dominion Freight Line Company Profile

(Get Rating)

Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.