Venturi Wealth Management LLC Sells 326 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Venturi Wealth Management LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,329 shares of the transportation company’s stock after selling 326 shares during the quarter. Venturi Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 83 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line in the second quarter worth about $25,000. Atwood & Palmer Inc. grew its stake in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Old Dominion Freight Line by 104.8% during the 1st quarter. Bell Investment Advisors Inc now owns 172 shares of the transportation company’s stock worth $38,000 after acquiring an additional 88 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s 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 completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated 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 approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,975 shares of company stock valued at $9,386,158 in the last 90 days. 9.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ODFL. BMO Capital Markets cut 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, October 24th. Raymond James increased their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Susquehanna cut their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Citigroup started coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price on the stock. Finally, Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $225.01 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $231.36. The company’s 50 day moving average is $197.95 and its 200 day moving average is $189.99. The company has a market cap of $48.04 billion, a PE ratio of 39.53, a price-to-earnings-growth ratio of 6.37 and a beta of 0.99.

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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

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.