Lord Abbett & CO. LLC Purchases Shares of 139,069 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Lord Abbett & CO. LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 139,069 shares of the transportation company's stock, valued at approximately $27,625,000. Lord Abbett & CO. LLC owned about 0.07% of Old Dominion Freight Line as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $25,000. LRI Investments LLC raised its holdings in Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $45,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research note on Thursday, October 24th. Argus lowered shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Bank of America decreased their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $204.00.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Trading Down 0.9 %

Shares of NASDAQ:ODFL traded down $1.80 during trading on Monday, hitting $198.89. 1,852,252 shares of the company's stock were exchanged, compared to its average volume of 1,528,419. The firm has a 50-day moving average price of $209.34 and a two-hundred day moving average price of $196.45. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The firm has a market cap of $42.46 billion, a P/E ratio of 34.77, a PEG ratio of 4.21 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.18%.

Old Dominion Freight Line Profile

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.