Moran Wealth Management LLC Buys 23,597 Shares of Old Dominion Freight Line, Inc. $ODFL

Moran Wealth Management LLC grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 827.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,449 shares of the transportation company’s stock after buying an additional 23,597 shares during the quarter. Moran Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $3,723,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ODFL. Financial Gravity Companies Inc. bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $26,000. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Old Dominion Freight Line by 175.7% in 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 purchasing an additional 123 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at approximately $47,000. Finally, Flaharty Asset Management LLC bought a new stake in Old Dominion Freight Line in the 1st quarter valued at approximately $59,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $171.07 on Friday. The company has a fifty day moving average price of $147.97 and a two-hundred day moving average price of $149.60. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $209.61. The stock has a market cap of $35.77 billion, a P/E ratio of 34.42, a P/E/G ratio of 8.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business earned $1.43 EPS. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ODFL. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group increased their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Robert W. Baird set a $170.00 price target on shares of Old Dominion Freight Line in a research note on Monday. Bank of America boosted their price target on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Stephens restated an “overweight” rating and issued a $190.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $159.46.

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.