Wealthfront Advisers LLC Has $7.02 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL
by Danessa Lincoln · The Markets DailyWealthfront Advisers LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 58.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,235 shares of the transportation company’s stock after acquiring an additional 16,007 shares during the quarter. Wealthfront Advisers LLC’s holdings in Old Dominion Freight Line were worth $7,017,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $39,000. Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line during the first quarter worth $39,000. Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $43,000. Finally, WPG Advisers LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at about $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on ODFL. Jefferies Financial Group lowered their target price on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, October 9th. TD Cowen lowered their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. Susquehanna lifted their target price on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Citigroup lowered their price target on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Finally, Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $161.90.
Old Dominion Freight Line Stock Up 0.4%
Old Dominion Freight Line stock opened at $136.73 on Tuesday. The firm has a 50 day moving average price of $144.15 and a 200-day moving average price of $153.96. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company has a market capitalization of $28.74 billion, a P/E ratio of 26.71, a P/E/G ratio of 3.22 and a beta of 1.19.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company posted $1.48 EPS. Old Dominion Freight Line’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is 21.88%.
Old Dominion Freight Line Company 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.
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