NEOS Investment Management LLC Acquires 32,607 Shares of Old Dominion Freight Line, Inc. $ODFL

NEOS Investment Management LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,069 shares of the transportation company’s stock after acquiring an additional 32,607 shares during the period. NEOS Investment Management LLC’s holdings in Old Dominion Freight Line were worth $11,835,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Stephens Inc. AR boosted its position in Old Dominion Freight Line by 0.7% in the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 67 shares during the last quarter. YANKCOM Partnership lifted its position in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its position in Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after acquiring an additional 71 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Old Dominion Freight Line by 0.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares during the last quarter. Finally, STF Management LP increased its position in shares of Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after acquiring an additional 77 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $193.32 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61. The business has a 50 day moving average price of $172.88 and a 200 day moving average price of $153.34. The company has a market capitalization of $40.42 billion, a P/E ratio of 40.02, a PEG ratio of 9.65 and a beta of 1.28.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is currently 23.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ODFL shares. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Morgan Stanley reiterated an “overweight” rating and set a $209.00 price objective (up previously from $190.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $195.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price objective on the stock. in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $189.88.

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.