Allspring Global Investments Holdings LLC Has $55.90 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Allspring Global Investments Holdings LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,859 shares of the transportation company’s stock after selling 159,754 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.16% of Old Dominion Freight Line worth $55,902,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ODFL. T. Rowe Price Investment Management Inc. boosted its stake in Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after buying an additional 1,151,221 shares in the last quarter. Nuveen LLC acquired a new stake in Old Dominion Freight Line in the 1st quarter valued at $151,107,000. JPMorgan Chase & Co. boosted its stake in Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after buying an additional 754,796 shares in the last quarter. Vanguard Group Inc. boosted its stake in Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Old Dominion Freight Line by 4,463.2% in the first quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company’s stock worth $43,253,000 after purchasing an additional 255,652 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ODFL shares. Truist Financial boosted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Citigroup reduced their price objective on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Jefferies Financial Group reduced their price objective on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Finally, Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $163.86.

Old Dominion Freight Line Trading Down 0.6%

ODFL stock opened at $135.43 on Wednesday. The company has a market cap of $28.46 billion, a P/E ratio of 26.45, a PEG ratio of 3.19 and a beta of 1.19. 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 quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $145.99 and a 200-day moving average of $155.28.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 EPS. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

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.