Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Holdings Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,850 shares of the transportation company's stock after selling 6,994 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Old Dominion Freight Line worth $45,062,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Foundations Investment Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company's stock worth $1,611,000 after purchasing an additional 54 shares during the period. Conning Inc. raised its holdings in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company's stock valued at $206,000 after buying an additional 64 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company's stock valued at $327,000 after buying an additional 66 shares in the last quarter. Quent Capital LLC grew its stake in Old Dominion Freight Line by 5.5% during the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company's stock worth $226,000 after buying an additional 67 shares during the period. Finally, Brighton Jones LLC increased its position in shares of Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company's stock worth $294,000 after acquiring an additional 71 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $676,320.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 in the last 90 days. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Bank of America lowered their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Argus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday. Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Finally, TD Cowen dropped their price objective 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. One equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $200.00.

Old Dominion Freight Line Stock Performance

ODFL stock traded down $7.86 during trading on Friday, hitting $215.57. 1,683,188 shares of the company's stock traded hands, compared to its average volume of 1,550,592. The stock has a fifty day moving average price of $201.32 and a two-hundred day moving average price of $191.30. 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, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99.

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 the consensus estimate 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 prior year, the business earned $1.54 earnings per share. Old Dominion Freight Line's quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 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.