Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 49,140 shares of the transportation company’s stock after purchasing an additional 6,798 shares during the period. Old Dominion Freight Line comprises 1.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 27th largest holding. Kinsale Capital Group Inc.’s holdings in Old Dominion Freight Line were worth $9,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Old Dominion Freight Line in the first quarter worth about $203,000. Gryphon Financial Partners LLC acquired a new stake in Old Dominion Freight Line in the first quarter worth about $241,000. Assetmark Inc. grew its stake in shares of Old Dominion Freight Line by 14.3% during the first quarter. Assetmark Inc. now owns 1,547 shares of the transportation company’s stock worth $302,000 after acquiring an additional 193 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of Old Dominion Freight Line by 21.0% during the first quarter. Angeles Wealth Management LLC now owns 2,577 shares of the transportation company’s stock worth $504,000 after acquiring an additional 447 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ODFL shares. Truist Financial increased their price objective on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna boosted their target price on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Tuesday, June 9th. Evercore raised shares of Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a report on Wednesday, July 1st. Finally, Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Ten equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $222.00.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4%

Shares of NASDAQ:ODFL opened at $233.84 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The stock has a market cap of $48.63 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 4.23 and a beta of 1.18. The business has a 50-day moving average price of $221.78 and a 200-day moving average price of $202.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.55 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is presently 24.27%.

Old Dominion Freight Line 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.