Synovus Financial Corp Purchases 101 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Synovus Financial Corp boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,358 shares of the transportation company’s stock after acquiring an additional 101 shares during the period. Synovus Financial Corp’s holdings in Old Dominion Freight Line were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ODFL. Toronto Dominion Bank boosted its stake in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after purchasing an additional 42,880 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $2,109,000. Kinsale Capital Group Inc. grew its stake in shares of Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after acquiring an additional 3,614 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Old Dominion Freight Line during the third quarter worth $30,745,000. 77.82% of the stock is currently owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated 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 sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ODFL has been the topic of several research analyst reports. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Evercore ISI lowered their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. TD Cowen cut their price target 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. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $204.00.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $198.89 on Tuesday. The business’s fifty day moving average is $209.34 and its two-hundred day moving average is $196.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $42.46 billion, a P/E ratio of 34.77, a P/E/G ratio of 4.21 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

About Old Dominion Freight Line

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.