Marshall Financial Group LLC Has $330,000 Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Marshall Financial Group LLC cut its stake in Old Dominion Freight Line by 82.9% in Q4, selling 10,234 shares and retaining 2,107 shares valued at about $330,000.
• Significant insider selling occurred recently — Chairman David S. Congdon sold 52,000 shares (~$10.13M) and insiders have sold 80,134 shares (~$15.64M) over the past 90 days, though insiders still own about 10% of the company.
• Analyst sentiment is mixed: the consensus is a "Hold" with an average target of $191.08, while several firms have recently raised price targets after ODFL slightly beat Q4 EPS expectations and declared a small dividend increase.

Marshall Financial Group LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 82.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,107 shares of the transportation company's stock after selling 10,234 shares during the quarter. Marshall Financial Group LLC's holdings in Old Dominion Freight Line were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Capital Wealth Partners LLC raised its stake in Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company's stock valued at $272,000 after acquiring an additional 71 shares during the period. Cim LLC lifted its holdings in Old Dominion Freight Line by 1.0% during the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company's stock valued at $1,082,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC boosted its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the period. Rothschild Investment LLC boosted its position in Old Dominion Freight Line by 8.5% during the third quarter. Rothschild Investment LLC now owns 1,071 shares of the transportation company's stock worth $151,000 after purchasing an additional 84 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Old Dominion Freight Line by 18.8% in the third quarter. Deseret Mutual Benefit Administrators now owns 588 shares of the transportation company's stock valued at $83,000 after purchasing an additional 93 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ODFL. Evercore increased their price objective on shares of Old Dominion Freight Line from $150.00 to $200.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. TD Cowen lifted their target price on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a "hold" rating in a report on Thursday, February 5th. Raymond James Financial increased their price target on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Stephens restated an "overweight" rating and set a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $168.00 to $182.00 and gave the stock a "neutral" rating in a report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $191.08.

Insider Activity

In related news, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares in the company, valued at approximately $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. This represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 80,134 shares of company stock worth $15,640,132. Corporate insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $187.70 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $221.63. The firm has a market cap of $39.12 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 3.86 and a beta of 1.23. The firm's 50-day simple moving average is $188.68 and its 200 day simple moving average is $160.70.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business's revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 EPS. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 24.02%.

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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