V Square Quantitative Management LLC Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

V Square Quantitative Management LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,369 shares of the transportation company’s stock after acquiring an additional 829 shares during the quarter. V Square Quantitative Management LLC’s holdings in Old Dominion Freight Line were worth $595,000 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 business. Vanguard Group Inc. boosted its holdings in Old Dominion Freight Line by 100.9% during the 1st 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the period. Capital Research Global Investors lifted its holdings in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the period. Bank of New York Mellon Corp lifted its holdings in Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the period. Finally, Capital World Investors lifted its holdings in Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded down $1.66 during trading hours on Wednesday, hitting $193.36. The stock had a trading volume of 438,916 shares, compared to its average volume of 1,631,355. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The firm has a market capitalization of $42.01 billion, a PE ratio of 34.33, a PEG ratio of 3.92 and a beta of 1.00. The stock has a fifty day moving average price of $186.20 and a 200 day moving average price of $199.09.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ODFL shares. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, July 25th. BMO Capital Markets raised their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays lowered their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Bank of America raised their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $202.78.

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.