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

One Wealth Advisors LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,502 shares of the transportation company’s stock, valued at approximately $1,625,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC increased its holdings in Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after buying an additional 46 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after acquiring an additional 55 shares during the period. Keybank National Association OH lifted its holdings in shares of Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after acquiring an additional 56 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after acquiring an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after acquiring an additional 60 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 2.2%

Shares of NASDAQ ODFL 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 firm’s 50-day moving average is $223.99 and its 200-day moving average is $209.27. The firm has a market capitalization of $43.75 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.67 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ODFL shares. TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. UBS Group reiterated a “neutral” rating and set a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Argus boosted 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. Stifel Nicolaus set a $263.00 price objective on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $226.55.

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.