Clarendon Private LLC Acquires New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Clarendon Private LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,279 shares of the transportation company’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter worth approximately $45,000. Brown Brothers Harriman & Co. raised its holdings in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Quarry LP acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $60,000. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $64,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $190.81 on Friday. The company has a market capitalization of $40.74 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The business has a 50-day simple moving average of $196.26 and a two-hundred day simple moving average of $198.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price 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. Barclays cut their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. TD Cowen lowered their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $202.44.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

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.