Dynasty Wealth Management LLC Purchases Shares of 4,882 Old Dominion Freight Line, Inc. $ODFL

Key Points

• Dynasty Wealth Management LLC initiated a new position in Old Dominion Freight Line, buying 4,882 shares valued at about $765,000 in the fourth quarter.
• Institutional ownership remains very high, with large investors such as Vanguard, CIBC Private Wealth, JPMorgan, Norges Bank, and Boston Partners adding to or establishing positions; overall, 77.82% of the stock is institutionally owned.
• Old Dominion reported better-than-expected quarterly results with $1.14 EPS versus $1.05 expected and $1.33 billion in revenue, while analysts currently rate the stock a consensus Hold with an average target price of $207.08.

Dynasty Wealth Management LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,882 shares of the transportation company's stock, valued at approximately $765,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company's stock worth $3,273,546,000 after acquiring an additional 494,674 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Old Dominion Freight Line by 21.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company's stock worth $614,764,000 after acquiring an additional 776,004 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock worth $499,007,000 after acquiring an additional 622,275 shares during the last quarter. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $444,983,000. Finally, Boston Partners bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth $292,599,000. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. Argus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 price objective for the company in a report on Thursday, February 12th. Wells Fargo & Company lifted their price objective on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a "hold" rating in a report on Wednesday, April 22nd. Finally, Barclays set a $210.00 price objective on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $207.08.

Old Dominion Freight Line Trading Up 3.0%

Shares of NASDAQ:ODFL opened at $236.06 on Thursday. The company has a market cap of $49.09 billion, a price-to-earnings ratio of 49.39, a price-to-earnings-growth ratio of 4.69 and a beta of 1.17. The company has a 50-day moving average price of $207.60 and a 200-day moving average price of $184.29. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $236.84.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line's dividend payout ratio is 24.27%.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares of the company's stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.00% of the company's stock.

About Old Dominion Freight Line

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.

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