GHP Investment Advisors Inc. Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

GHP Investment Advisors Inc. cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 23,570 shares of the transportation company’s stock after selling 87 shares during the period. GHP Investment Advisors Inc.’s holdings in Old Dominion Freight Line were worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. boosted its holdings in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. boosted its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the period. Washington Trust Advisors Inc. increased its stake in Old Dominion Freight Line by 138.3% in the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after buying an additional 83 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 163 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $197.79 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The stock has a 50 day moving average price of $195.53 and a 200-day moving average price of $190.44.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $1.54 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.56 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. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Old Dominion Freight Line’s payout ratio is 17.82%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup initiated coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price target for the company. Barclays reduced their price objective on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Thursday. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Finally, BMO Capital Markets reduced their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $196.39.

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.