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

Toronto Dominion Bank boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 77.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,061 shares of the transportation company’s stock after buying an additional 42,880 shares during the period. Toronto Dominion Bank’s holdings in Old Dominion Freight Line were worth $19,479,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line during the second quarter valued at $25,000. LRI Investments LLC boosted its stake in Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line during the third quarter worth about $45,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.9 %

Shares of NASDAQ:ODFL opened at $203.04 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a market cap of $43.35 billion, a PE ratio of 35.50, a P/E/G ratio of 4.29 and a beta of 1.00. 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 stock’s 50-day moving average is $208.96 and its 200 day moving average is $195.74.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm 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 dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line 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 sale, the director now directly 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 disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. Evercore ISI dropped their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Robert W. Baird dropped their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $204.00.

About Old Dominion Freight Line

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.