Greenleaf Trust Sells 418 Shares of Old Dominion Freight Line, Inc. $ODFL

Greenleaf Trust reduced its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,204 shares of the transportation company’s stock after selling 418 shares during the period. Greenleaf Trust’s holdings in Old Dominion Freight Line were worth $845,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ODFL. T. Rowe Price Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $151,107,000. JPMorgan Chase & Co. grew its holdings in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Old Dominion Freight Line by 4,463.2% during the 1st quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company’s stock worth $43,253,000 after purchasing an additional 255,652 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $140.60 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $29.55 billion, a P/E ratio of 27.46, a P/E/G ratio of 3.23 and a beta of 1.19. The business’s fifty day moving average is $148.10 and its two-hundred day moving average is $156.79. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Analyst Ratings Changes

ODFL has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Truist Financial lifted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Citigroup decreased their price target on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Evercore ISI decreased their price target on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Raymond James Financial decreased their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $166.10.

Old Dominion Freight Line 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.