Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 20.4% in the first quarter, HoldingsChannel reports. The fund owned 1,983 shares of the transportation company’s stock after buying an additional 336 shares during the quarter. Ballentine Partners LLC’s holdings in Old Dominion Freight Line were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ODFL. American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line during the 1st quarter valued at about $30,000. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter valued at about $39,000. Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 192 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter valued at about $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, June 18th. Wells Fargo & Company increased their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “underweight” rating in a research report on Monday, July 7th. Raymond James Financial set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Truist Financial increased their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $174.45.

Old Dominion Freight Line Stock Down 2.6%

Shares of NASDAQ:ODFL opened at $161.35 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a 50 day moving average of $163.91 and a two-hundred day moving average of $170.39. The company has a market capitalization of $34.10 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $1.34 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is currently 21.01%.

About Old Dominion Freight Line

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.