Great Valley Advisor Group Inc. Sells 4,067 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Great Valley Advisor Group Inc. reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 47.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,487 shares of the transportation company's stock after selling 4,067 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Old Dominion Freight Line were worth $892,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after acquiring an additional 1,017 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Old Dominion Freight Line during the third quarter worth $2,109,000. Kinsale Capital Group Inc. lifted its holdings in Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after acquiring an additional 3,614 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Old Dominion Freight Line during the third quarter worth $30,745,000. Finally, Truist Financial Corp raised its stake in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock valued at $18,754,000 after buying an additional 7,460 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 7,383 shares of the company's stock, valued at $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. In the last three months, insiders sold 20,000 shares of company stock worth $4,028,510. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded up $0.86 during midday trading on Tuesday, hitting $225.97. 1,069,751 shares of the company's stock were exchanged, compared to its average volume of 1,537,499. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock has a 50-day moving average price of $204.50 and a two-hundred day moving average price of $192.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $48.24 billion, a P/E ratio of 39.51, a PEG ratio of 4.61 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Argus lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Evercore ISI lowered their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group lowered their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Citigroup boosted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Finally, Bank of America lowered their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $200.00.

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.