Icon Wealth Advisors LLC Purchases 1,193 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Icon Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 147.8% in the third quarter, HoldingsChannel reports. The firm owned 2,000 shares of the transportation company’s stock after buying an additional 1,193 shares during the period. Icon Wealth Advisors LLC’s holdings in Old Dominion Freight Line were worth $397,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ODFL. Sequoia Financial Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares during the period. Kinsale Capital Group Inc. lifted its holdings in Old Dominion Freight Line by 18.4% during the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Old Dominion Freight Line during the third quarter worth $30,745,000. Truist Financial Corp increased its holdings in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Finally, Whalen Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line in the third quarter valued at about $681,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the company from $209.00 to $197.00 in a research report on Monday, October 21st. The Goldman Sachs Group dropped their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Bank of America decreased their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Stephens reissued an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Stock Up 0.9 %

Shares of ODFL opened at $220.25 on Friday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a market cap of $47.02 billion, a P/E ratio of 38.51, a P/E/G ratio of 4.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $203.84 and a two-hundred day simple moving average of $192.44.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Old Dominion Freight Line Profile

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.