Vestcor Inc Sells 24,232 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Vestcor Inc trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 69.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,734 shares of the transportation company's stock after selling 24,232 shares during the quarter. Vestcor Inc's holdings in Old Dominion Freight Line were worth $2,132,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ODFL. State Street Corp increased its position in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company's stock worth $1,096,849,000 after buying an additional 270,538 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company's stock worth $264,157,000 after acquiring an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company's stock worth $239,096,000 after acquiring an additional 78,587 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Evercore ISI decreased their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets dropped their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group reduced their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $202.88.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Old Dominion Freight Line Trading Down 0.1 %

NASDAQ ODFL traded down $0.28 on Wednesday, hitting $204.81. The company's stock had a trading volume of 1,874,967 shares, compared to its average volume of 1,531,766. 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, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a market cap of $43.73 billion, a P/E ratio of 35.81, a PEG ratio of 4.25 and a beta of 1.00. The company's 50-day simple moving average is $208.72 and its 200 day simple moving average is $195.69.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its 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 net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed 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 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

Old Dominion Freight Line Company 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.