First Trust Advisors LP Boosts Stock Position in Old Dominion Freight Line, Inc. $ODFL

First Trust Advisors LP boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,521,054 shares of the transportation company’s stock after buying an additional 592,605 shares during the period. First Trust Advisors LP owned 0.72% of Old Dominion Freight Line worth $246,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $26,000. Rossby Financial LCC acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $28,000. Zions Bancorporation National Association UT purchased a new position in Old Dominion Freight Line in the first quarter worth approximately $39,000. Chilton Capital Management LLC acquired a new stake in Old Dominion Freight Line during the second quarter worth $47,000. Finally, WPG Advisers LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Stephens lowered their target price on shares of Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Bank of America upped their price objective on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays dropped their target price on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $156.43.

Old Dominion Freight Line Stock Up 1.7%

Old Dominion Freight Line stock opened at $153.51 on Friday. The stock has a market cap of $32.10 billion, a PE ratio of 30.89, a P/E/G ratio of 3.75 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s fifty day moving average is $138.01 and its two-hundred day moving average is $150.11. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $211.33.

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

Old Dominion Freight Line Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.54%.

Old Dominion Freight Line Company 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.