Allspring Global Investments Holdings LLC Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Allspring Global Investments Holdings LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 396,858 shares of the transportation company’s stock after purchasing an additional 6,967 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.18% of Old Dominion Freight Line worth $70,085,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Syon Capital LLC increased its holdings in Old Dominion Freight Line by 12.3% in the 4th quarter. Syon Capital LLC now owns 593 shares of the transportation company’s stock valued at $240,000 after purchasing an additional 65 shares during the last quarter. Kovack Advisors Inc. grew its holdings in shares of Old Dominion Freight Line by 13.1% in the fourth quarter. Kovack Advisors Inc. now owns 1,348 shares of the transportation company’s stock valued at $546,000 after purchasing an additional 156 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Old Dominion Freight Line by 32.3% during the 4th quarter. Russell Investments Group Ltd. now owns 157,555 shares of the transportation company’s stock worth $63,920,000 after buying an additional 38,475 shares in the last quarter. Principle Wealth Partners LLC boosted its position in Old Dominion Freight Line by 1.6% in the 4th quarter. Principle Wealth Partners LLC now owns 11,052 shares of the transportation company’s stock valued at $4,480,000 after buying an additional 169 shares during the period. Finally, Mather Group LLC. purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $246,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America increased their price objective 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. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. 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 research note on Monday, July 8th. Finally, TD Cowen increased their price objective on shares of Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $200.88.

Old Dominion Freight Line Trading Down 3.1 %

Old Dominion Freight Line stock opened at $192.86 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The stock has a market cap of $41.91 billion, a PE ratio of 33.95, a P/E/G ratio of 3.75 and a beta of 1.00. The stock has a 50-day moving average price of $191.44 and a 200 day moving average price of $198.56. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.33 EPS. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.7 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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