QV Investors Inc. Decreases Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

QV Investors Inc. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 54.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 56,110 shares of the transportation company’s stock after selling 67,300 shares during the quarter. QV Investors Inc.’s holdings in Old Dominion Freight Line were worth $12,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bell Investment Advisors Inc bought a new position in Old Dominion Freight Line during the second quarter valued at $25,000. Solstein Capital LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $28,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $29,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ODFL. Rothschild & Co Redburn lowered their price target on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Barclays upped their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $250.00 in a research note on Wednesday, July 8th. Finally, Wall Street Zen cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $226.55.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.20% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $198.63 on Monday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market capitalization of $41.19 billion, a price-to-earnings ratio of 38.27, a PEG ratio of 3.45 and a beta of 1.18. The firm’s 50-day moving average is $217.58 and its 200 day moving average is $210.62.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

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.