Toronto Dominion Bank Purchases 42,880 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Toronto Dominion Bank grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 77.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,061 shares of the transportation company's stock after purchasing an additional 42,880 shares during the quarter. Toronto Dominion Bank's holdings in Old Dominion Freight Line were worth $19,479,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock valued at $1,188,000 after acquiring an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Old Dominion Freight Line in the 3rd quarter worth $2,109,000. Kinsale Capital Group Inc. boosted its position in shares of Old Dominion Freight Line by 18.4% in the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after purchasing an additional 3,614 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $30,745,000. Finally, Truist Financial Corp increased its holdings in 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 purchasing an additional 7,460 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Stock Down 1.2 %

NASDAQ:ODFL traded down $2.35 on Friday, hitting $200.69. 849,093 shares of the company's stock were exchanged, compared to its average volume of 1,527,076. The firm has a 50-day moving average price of $209.13 and a 200-day moving average price of $195.93. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $42.85 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line's revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ODFL shares. Barclays raised their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 13th. Argus cut shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Benchmark reiterated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $204.00.

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.