LVW Advisors LLC Grows Stake in Old Dominion Freight Line, Inc. $ODFL

LVW Advisors LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 76.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,193 shares of the transportation company’s stock after purchasing an additional 2,687 shares during the quarter. LVW Advisors LLC’s holdings in Old Dominion Freight Line were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. boosted its stake in Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares during the period. Westside Investment Management Inc. increased its stake in Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Old Dominion Freight Line in the 3rd quarter worth about $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $55,000. Finally, Zions Bancorporation National Association UT raised its holdings in shares of Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ODFL. Truist Financial set a $225.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 target price on the stock. in a research note on Thursday, February 5th. Robert W. Baird cut shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $166.00 to $204.00 in a research note on Thursday, February 5th. Barclays set a $185.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Stephens restated an “overweight” rating and set a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $191.08.

Insider Activity at Old Dominion Freight Line

In related news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 80,134 shares of company stock valued at $15,640,132. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Trading Up 0.2%

Shares of NASDAQ ODFL opened at $188.34 on Friday. The stock’s 50-day moving average is $189.70 and its 200 day moving average is $161.68. The stock has a market cap of $39.25 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 3.96 and a beta of 1.23. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s payout ratio is 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.