Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Geneva Capital Management LLC

Geneva Capital Management LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,085 shares of the transportation company's stock after buying an additional 6,437 shares during the period. Geneva Capital Management LLC's holdings in Old Dominion Freight Line were worth $19,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Atwood & Palmer Inc. lifted its position in shares of Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc lifted its position in shares of Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock worth $31,000 after purchasing an additional 163 shares during the period. LRI Investments LLC lifted its position in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock worth $33,000 after purchasing an additional 79 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $38,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $0.11 during midday trading on Wednesday, reaching $226.21. The company's stock had a trading volume of 527,943 shares, compared to its average volume of 1,548,231. The firm has a market capitalization of $48.30 billion, a PE ratio of 39.40, a P/E/G ratio of 6.38 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock has a fifty day moving average of $199.36 and a 200 day moving average of $190.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 21.03% and a return on equity of 29.40%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line's payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ODFL. Robert W. Baird lowered their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, Raymond James increased their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. One 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $200.00.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock worth $10,062,478 over the last 90 days. 9.90% of the stock is currently owned by company insiders.

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.