Old Dominion Freight Line, Inc. $ODFL Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,092 shares of the transportation company’s stock after selling 705 shares during the period. Angeles Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after acquiring an additional 416,097 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock valued at $706,841,000 after acquiring an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 79.5% during 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 acquiring an additional 1,151,221 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after acquiring an additional 754,796 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Old Dominion Freight Line by 11.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after buying an additional 145,058 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $138.04 on Friday. The company has a 50-day moving average of $145.42 and a 200-day moving average of $154.75. The company has a market capitalization of $29.01 billion, a P/E ratio of 26.96, a PEG ratio of 3.26 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on ODFL. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Barclays dropped their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Jefferies Financial Group dropped their price target on shares of 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. Truist Financial lifted their price target on shares of 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. Finally, Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.86.

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.