Old Dominion Freight Line (ODFL) Holdings Decreased by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 42.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,882 shares of the transportation company’s stock after selling 12,515 shares during the period. Penserra Capital Management LLC’s holdings in Old Dominion Freight Line were worth $2,722,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Old Dominion Freight Line by 1.4% during the 2nd quarter. BlackRock Inc. now owns 6,415,315 shares of the transportation company’s stock valued at $955,626,000 after buying an additional 88,236 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Old Dominion Freight Line by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 751,230 shares of the transportation company’s stock valued at $121,142,000 after buying an additional 16,690 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Old Dominion Freight Line by 3.0% during the 2nd quarter. Northern Trust Corp now owns 589,434 shares of the transportation company’s stock valued at $87,802,000 after buying an additional 17,339 shares in the last quarter. Morgan Stanley raised its holdings in shares of Old Dominion Freight Line by 107.1% during the 2nd quarter. Morgan Stanley now owns 473,609 shares of the transportation company’s stock valued at $70,549,000 after buying an additional 244,948 shares in the last quarter. Finally, AGF Investments Inc. raised its holdings in shares of Old Dominion Freight Line by 3.3% during the 2nd quarter. AGF Investments Inc. now owns 463,007 shares of the transportation company’s stock valued at $68,970,000 after buying an additional 14,709 shares in the last quarter. 72.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on ODFL shares. Morgan Stanley raised their price objective on Old Dominion Freight Line from $158.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, October 9th. Bank of America lifted their price target on Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a research note on Thursday, August 30th. ValuEngine raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. BidaskClub cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Buckingham Research decreased their price target on Old Dominion Freight Line from $162.00 to $154.00 and set a “neutral” rating on the stock in a research note on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $146.25.

Shares of ODFL stock opened at $134.99 on Friday. The company has a market capitalization of $11.47 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41. Old Dominion Freight Line has a fifty-two week low of $116.61 and a fifty-two week high of $170.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.92.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, October 25th. The transportation company reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. Research analysts forecast that Old Dominion Freight Line will post 7.17 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a $0.13 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.39%. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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