Wealthcare Advisory Partners LLC Sells 11,450 Shares of Old Dominion Freight Line, Inc. $ODFL

Wealthcare Advisory Partners LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,486 shares of the transportation company’s stock after selling 11,450 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Old Dominion Freight Line were worth $913,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in Old Dominion Freight Line during the second quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 175.7% during the 3rd 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 in the last quarter. Westside Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the period. Rossby Financial LCC bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $28,000. Finally, Chilton Capital Management LLC purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth approximately $47,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

ODFL opened at $201.39 on Friday. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 9.74 and a beta of 1.28. The company has a fifty day moving average of $175.17 and a 200 day moving average of $154.30. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $208.74.

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

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 23.19%.

Wall Street Analyst Weigh In

ODFL has been the topic of several analyst reports. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a report on Thursday, January 8th. Raymond James Financial raised their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Robert W. Baird downgraded shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $166.00 to $204.00 in a report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Old Dominion Freight Line in a research note on Thursday. Finally, Stephens reissued an “overweight” rating and set a $232.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $189.88.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares in the company, valued at $2,190,977.06. This trade represents a 21.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.00% of the company’s stock.

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.