Catalytic Wealth RIA LLC Acquires 992 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Catalytic Wealth RIA LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 177.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,550 shares of the transportation company’s stock after purchasing an additional 992 shares during the period. Catalytic Wealth RIA LLC’s holdings in Old Dominion Freight Line were worth $340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC boosted its stake in Old Dominion Freight Line by 19.1% in the first quarter. Jacobi Capital Management LLC now owns 2,095 shares of the transportation company’s stock valued at $459,000 after acquiring an additional 336 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Old Dominion Freight Line by 114.2% in the first quarter. Edgestream Partners L.P. now owns 24,161 shares of the transportation company’s stock valued at $5,299,000 after acquiring an additional 12,881 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Old Dominion Freight Line by 148.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 3,636 shares of the transportation company’s stock valued at $797,000 after acquiring an additional 2,171 shares in the last quarter. Fiducient Advisors LLC acquired a new stake in Old Dominion Freight Line in the first quarter valued at approximately $207,000. Finally, Vanguard Group Inc. boosted its stake in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday. BMO Capital Markets began coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target for the company. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $201.13.

Old Dominion Freight Line Stock Performance

ODFL traded down $0.16 on Monday, reaching $195.31. The stock had a trading volume of 1,341,239 shares, compared to its average volume of 1,597,321. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $178.95 and its two-hundred day moving average price is $198.69. The company has a market cap of $42.44 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is 18.31%.

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.