HRT Financial LP Invests $30.81 Million in Old Dominion Freight Line, Inc. $ODFL

HRT Financial LP acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 189,855 shares of the transportation company’s stock, valued at approximately $30,813,000. HRT Financial LP owned about 0.09% of Old Dominion Freight Line at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Old Dominion Freight Line by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after purchasing an additional 71 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Old Dominion Freight Line by 9.4% during the first quarter. Public Sector Pension Investment Board now owns 24,998 shares of the transportation company’s stock worth $4,136,000 after purchasing an additional 2,140 shares during the period. Russell Investments Group Ltd. grew its holdings in Old Dominion Freight Line by 0.9% during the first quarter. Russell Investments Group Ltd. now owns 271,564 shares of the transportation company’s stock valued at $44,920,000 after purchasing an additional 2,388 shares during the last quarter. Finally, National Pension Service grew its holdings in Old Dominion Freight Line by 17.0% during the first quarter. National Pension Service now owns 297,819 shares of the transportation company’s stock valued at $49,274,000 after purchasing an additional 43,179 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $159.49 on Friday. The business’s 50 day moving average is $139.81 and its 200-day moving average is $149.69. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $33.35 billion, a PE ratio of 32.09, a PEG ratio of 4.15 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $1.43 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.54%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ODFL. Morgan Stanley raised shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $165.00 to $190.00 in a report on Monday. Wolfe Research upped their price target on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the company an “underperform” rating in a report on Monday, December 8th. UBS Group raised their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $154.48.

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.