12,258 Old Dominion Freight Line, Inc. $ODFL Shares Bought by Valley National Advisers Inc.

Key Points

• Valley National Advisers increased its ODFL holdings by 1,502.2% in the third quarter, purchasing 12,258 shares for a total position of 13,074 shares valued at approximately $2.27 million. Institutional investors and hedge funds collectively own 77.82% of the company.
• Old Dominion reported quarterly EPS of $1.68, exceeding the $1.54 analyst consensus, while revenue rose 10.4% year over year to $1.55 billion. The company also declared a $0.29 quarterly dividend, representing an annualized yield of about 0.6%.
• Analysts maintain a consensus “Hold” rating with an average price target of $223.48 versus the reported share price of $182.70, but concerns include slowing freight volumes, elevated valuation, higher fuel costs and a recent insider stock sale.

Valley National Advisers Inc. raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1,502.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,074 shares of the transportation company's stock after purchasing an additional 12,258 shares during the quarter. Valley National Advisers Inc.'s holdings in Old Dominion Freight Line were worth $2,273,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC boosted its position in Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company's stock valued at $100,000 after buying an additional 46 shares in the last quarter. Private Advisor Group LLC raised its position in Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company's stock worth $814,000 after purchasing an additional 55 shares during the last quarter. Keybank National Association OH raised its position in shares of Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company's stock worth $479,000 after acquiring an additional 56 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position 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 purchasing an additional 62 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in shares of Old Dominion Freight Line by 13.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 526 shares of the transportation company's stock worth $114,000 after purchasing an additional 64 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company's stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line News Roundup

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Old Dominion declared a quarterly dividend of $0.29 per share, payable December 16 to shareholders of record December 2. The payout provides modest income support, although the approximately 0.6% yield is unlikely to be a major stock catalyst. Old Dominion dividend announcement
• Positive Sentiment: Analysts expect strong year-over-year earnings growth in the upcoming report, while Zacks says Old Dominion’s history of earnings beats and current estimate trends could support another upside surprise. Old Dominion earnings estimate analysis
• Neutral Sentiment: Institutional positioning is mixed: 510 investors added shares in the latest quarter, while 448 reduced positions. Several large funds made sizable purchases, but other major holders cut exposure, offering no clear consensus signal.
• Neutral Sentiment: Analyst price targets remain materially above the current trading level, with a reported six-month median target of $234, but recent target reductions suggest expectations are becoming more cautious.
• Negative Sentiment: Investors appear cautious before the October 28 earnings release. August revenue per day increased 12.4%, helped by pricing, but tons per day fell 0.9% and shipments per day declined 2.4%, raising concerns about underlying freight demand. Old Dominion shares and freight signals
• Negative Sentiment: A separate analysis argues that ODFL looks expensive relative to its cash-flow generation, increasing downside risk if earnings or guidance fail to exceed elevated expectations. Old Dominion valuation analysis
• Negative Sentiment: Higher fuel costs are creating a broader competitive disadvantage for trucking companies versus railroads, potentially pressuring operating margins across the freight sector. Railroads and fuel costs

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $182.70 on Friday. The business's fifty day moving average price is $186.11 and its 200-day moving average price is $207.29. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The stock has a market capitalization of $37.88 billion, a PE ratio of 35.20, a P/E/G ratio of 3.02 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.86 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a $0.29 dividend. 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, December 2nd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 22.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ODFL. Morgan Stanley reiterated an "equal weight" rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $231.00 to $223.00 in a research note on Tuesday, September 8th. Evercore restated an "outperform" rating and set a $243.00 price target (up from $237.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Weiss Ratings downgraded Old Dominion Freight Line from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Finally, Truist Financial set a $230.00 price target on shares of Old Dominion Freight Line and gave the company a "buy" rating in a research report on Wednesday, October 7th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $223.48.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company's services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.

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