One Wealth Advisors LLC Takes $1.62 Million Position in Old Dominion Freight Line, Inc. $ODFL

One Wealth Advisors LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,502 shares of the transportation company’s stock, valued at approximately $1,625,000.

Several other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the last quarter. State Street Corp lifted its holdings in Old Dominion Freight Line by 0.9% in the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after purchasing an additional 70,736 shares during the last quarter. Boston Partners boosted its position in Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after purchasing an additional 2,044,434 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock worth $577,137,000 after purchasing an additional 365,424 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Old Dominion Freight Line by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,314,157 shares of the transportation company’s stock valued at $519,660,000 after purchasing an additional 639,769 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ODFL has been the topic of a number of recent analyst reports. Argus lifted their price target on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Raymond James Financial reiterated an “outperform” rating and issued a $241.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Old Dominion Freight Line from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Rothschild & Co Redburn cut their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. Finally, Citigroup reissued a “neutral” rating and set a $231.00 target price (up from $228.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Trading Down 2.2%

Shares of Old Dominion Freight Line stock opened at $210.97 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company’s fifty day simple moving average is $223.99 and its 200-day simple moving average is $209.27. The company has a market cap of $43.75 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 3.67 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $1.27 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.