Vanguard Group Inc. Increases Stock Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Vanguard Group Inc. increased its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,543,803 shares of the transportation company’s stock after acquiring an additional 30,143 shares during the quarter. Vanguard Group Inc. owned about 8.18% of Old Dominion Freight Line worth $976,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in ODFL. Jag Capital Management LLC grew its stake in Old Dominion Freight Line by 101.5% in the second quarter. Jag Capital Management LLC now owns 122,488 shares of the transportation company’s stock worth $18,282,000 after purchasing an additional 61,705 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Old Dominion Freight Line by 0.9% during the 1st quarter. BlackRock Inc. now owns 6,276,214 shares of the transportation company’s stock worth $906,224,000 after purchasing an additional 53,003 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Old Dominion Freight Line by 6.0% during the 2nd quarter. Wells Fargo & Company MN now owns 739,571 shares of the transportation company’s stock worth $110,388,000 after purchasing an additional 42,148 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Old Dominion Freight Line by 18.8% during the 1st quarter. Nordea Investment Management AB now owns 238,647 shares of the transportation company’s stock worth $34,462,000 after purchasing an additional 37,819 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $3,856,000. 71.49% of the stock is owned by institutional investors.

Several analysts recently commented on the company. Mizuho reaffirmed a “hold” rating and set a $151.00 target price on shares of Old Dominion Freight Line in a report on Tuesday, July 2nd. Bank of America restated a “neutral” rating and issued a $150.00 target price (up previously from $144.00) on shares of Old Dominion Freight Line in a research report on Thursday, June 20th. Morgan Stanley set a $146.00 target price on Old Dominion Freight Line and gave the company a “hold” rating in a research report on Friday, August 9th. Robert W. Baird set a $162.00 target price on Old Dominion Freight Line and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $152.08.



In other news, Chairman Earl E. Congdon sold 56,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.53, for a total value of $9,392,292.00. Following the transaction, the chairman now owns 10,854 shares in the company, valued at $1,807,516.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David S. Congdon sold 30,150 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $165.51, for a total transaction of $4,990,126.50. Following the completion of the transaction, the insider now owns 13,385 shares in the company, valued at approximately $2,215,351.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,799 shares of company stock valued at $14,586,493. 11.90% of the stock is owned by company insiders.

NASDAQ ODFL traded up $0.32 during trading hours on Monday, reaching $169.97. The company’s stock had a trading volume of 66,081 shares, compared to its average volume of 431,001. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $165.88 and a 200 day simple moving average of $152.20. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $176.22. The stock has a market cap of $13.69 billion, a PE ratio of 23.03, a PEG ratio of 2.46 and a beta of 1.50.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Old Dominion Freight Line had a net margin of 15.48% and a return on equity of 23.57%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 EPS. As a group, equities analysts predict that Old Dominion Freight Line will post 7.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s payout ratio is currently 9.21%.

Old Dominion Freight Line 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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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