SVB Wealth LLC Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

SVB Wealth LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 88.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,465 shares of the transportation company’s stock after acquiring an additional 1,160 shares during the period. SVB Wealth LLC’s holdings in Old Dominion Freight Line were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares during the period. Bank of New York Mellon Corp grew its holdings in Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after buying an additional 2,888,205 shares during the period. Capital Research Global Investors increased its stake in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.7 %

Shares of ODFL stock traded down $1.43 on Monday, hitting $201.50. The stock had a trading volume of 1,270,492 shares, compared to its average volume of 1,625,631. The stock’s 50 day moving average is $180.72 and its 200-day moving average is $198.87. The firm has a market capitalization of $43.78 billion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 3.92 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.73 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. Evercore ISI restated an “in-line” rating and issued a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “neutral” rating in a report on Thursday. Susquehanna reduced their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Raymond James boosted their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company began coverage on Old Dominion Freight Line in a report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $202.78.

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.